Chicago soybeans slip as traders monitor China buying; wheat, corn also down

Chicago soybean futures fell on Monday, weighed down by ample global supplies and lingering doubts over whether top buyer China will buy 12 million metric tons of U.S. soybeans by the end of 2025 as forecast by senior U.S. officials. Chicago Board of Trade most-active soybean fell 0.1% to $11.35-3/4 a bushel at 1232 GMT. Wheat fell 0.5% to $5.35-3/4 a bushel amid abundant global supplies and slack demand. Corn lost 0.4% to $4.45-3/4 a bushel, pulling back on profit-taking after strong U.S. export demand pushed prices on Friday to their highest level since early June. “There have been some Chinese sales of U.S. soybeans but they are disappointing compared to the big total expected,” one German trader said. “The market is waiting for evidence of larger Chinese purchases to support upward momentum.” China started buying U.S. soybeans, wheat and sorghum after the U.S/China trade truce in October. The U.S. government has confirmed over 2 million tons of soybean sales since October 30. ...