BEIJING, Aug 28 (Reuters) - Chicago soybean futures rose on Friday, supported by Chinese demand for American beans. Wheat fell, while corn rose.
The most-traded soy contract on the Chicago Board of Trade (CBOT) Sv1 gained 0.4% to $12.73-1/4 a bushel by 0120 GMT. CBOT corn Cv1 rose 0.2% to $5.34-1/2 a bushel, while wheat Wv1 fell 0.2% to $7.59 a bushel.
Soybeans have gained 1% so far this week, corn has risen 5% and wheat is up 8.6%.
The U.S. Department of Agriculture on Thursday reported net export sales of new-crop U.S. soybeans in the week ended August 20 at 2,478,300 metric tons, in line with trade expectations for 1,500,000 to 3,000,000 tons.
China's Sinograin sold 222,782 tons of imported soybeans on Wednesday, or 76.6% of the total volume, according to data from consultancy Mysteel.
The sale was the state stockpiler's fifth soybean auction in less than a month, aimed at freeing up storage capacity for incoming U.S. cargoes.
A coalition of U.S. farm and biofuel groups has urged President Donald Trump to reject a proposed expansion of exemptions from the nation's biofuel blending requirements, warning that a surge in waivers for small refineries would hurt rural America by undercutting demand for American crops and renewable fuels.
Soybeans frequently track developments in crude oil as the oilseed is commonly used as a feedstock for biofuel.
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