The comments come after US Agriculture Secretary Sonny Perdue said Friday on Twitter that China committed to buy an additional 10 million tonnes of US soyabeans. Chicago Board of Trade May soyabean futures rose 2-1/2 cents at $9.19-1/2 a bushel at 11:25 a.m. CST (1725 GMT).
May corn dropped for the third consecutive session, falling 2-1/4 cents at $3.73-3/4 a bushel, its lowest since Sept. 21. May wheat dropped 3/4 cent at $4.67-1/2 a bushel, struggling to rebound a day after the most-active wheat contract fell to its lowest since April 17.
The Chicago market has been hoping for a transfer of export business to the United States after heavy sales from the Black Sea. But Russia and the EU are continuing to have strong sales in world wheat markets. Russia, the world's largest wheat exporter, said on Wednesday it does not plan to impose restrictions on grain exports. Dry weather for about six months on Australia's east coast may curb wheat crop yields for a third straight year in the major exporter, a weather forecaster said.