BEIJING: Chicago soybean futures inched higher on Wednesday, supported in part by accelerating U.S. soybean shipments to China after months of tariff-related disruptions, though concerns persist over China’s overall purchase pace.
Wheat extended gains for a second straight session on heightened Black Sea war tensions, while corn edged lower.
Fundamentals
The most-active soybean contract on the Chicago Board of Trade (CBOT) was up 0.33% at $11.28-1/2 a bushel, as of 0138 GMT.
CBOT wheat added 0.18% to $5.42 a bushel and corn dipped 0.06% to $4.49-3/4 a bushel.
Traders kept a close eye on China’s buying pace of U.S. soybeans. The United States Department of Agriculture reported no new “flash” sales of U.S. soybeans on Tuesday.
U.S. soybean shipments to China are gaining momentum, with at least six bulk cargo vessels scheduled to load with soybeans at Gulf Coast terminals through mid-December, according to a shipping schedule seen by Reuters on Tuesday.
Brazil is projected to harvest a record soybean crop in early 2026, though traders are watching dry spots in the country’s southern areas.
War-related risks in the Black Sea remains a concern.
Following Ukrainian drone strikes on two oil tankers bound for a Russian port last week, another drone attack hit Russian-flagged vessel carrying sunflower oil on Tuesday.
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