Soybeans edge higher as China buys more from US

Chicago soybean futures crept higher on Wednesday as traders told Reuters China had stepped up purchases of U.S. soybeans after a call between Presidents Donald Trump and Xi Jinping. However, prices remained below last week’s 17-month high amid doubts that China will buy as much as U.S. officials say they will. Wheat futures fell as Russian consultancy IKAR predicted that the country, the world’s biggest wheat exporter, would follow this year’s large crop with another big one in 2026. Corn edged higher, with a sharp fall in exports from Ukraine providing some support. The most-active soybean contract on the Chicago Board of Trade (CBOT) was up 0.2% at $11.26-3/4 a bushel at 0610 GMT after rising as high as $11.69-1/2 last week. Market sources said China has bought at least 10 cargoes of U.S. soybeans since Trump and Xi spoke on Monday. Trump said he had pressed Xi to accelerate and increase Beijing’s purchases of U.S. goods. Those cargoes would add at least 600,000 metric tons to ...