Soybeans head for weekly gain on China demand, soymeal strength
SOYB•Upcoming data and events
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Supply, export and crop factors in focus
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The most-active soybean contract Sv1 on the Chicago Board of Trade (CBOT) slipped 0.04% to $13.19-1/4 a bushel by 0106 GMT, but was up 1.79% for the week.
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Wheat Wv1 eased 0.03% to $7.26-3/4 a bushel but was up 0.17% for the week. Corn Cv1 rose 0.24% to $5.31-3/4 a bushel and was up 0.33% for the week.
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US Treasury Secretary Scott Bessent said on Tuesday he planned to meet his Chinese counterpart this weekend.
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US Midwest soymeal supplies have tightened in recent weeks as soybean processors extended seasonal maintenance shutdowns, limiting soymeal and soyoil output, brokers said.
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The US Department of Agriculture reported net export sales of 325,900 metric tons of wheat, 1.03 million tons of corn, and 1.70 million tons of soybeans for the week ended September 10 - all within trade expectations.
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The International Grains Council raised its 2026/27 global wheat crop forecast by 3 million tons to 820 million, citing larger crops in Australia and Ukraine, but said trade flows remained slow amid Black Sea export disruptions. It cut its global corn production forecast by 4 million tons to 1.301 billion.
