China, the world's largest soyabean importer, will buy about 6 million tonnes of soya from the United States before trade talks in early October, said a chief analyst at Shanghai JC Intelligence Co Ltd.
Purchases of US agricultural products like soyabeans, the biggest US farm export in terms of dollar value, are seen as part of improving relations during the trade war between the United States and China.
The US Department of Agriculture, through its daily reporting system, said private exporters sold 257,000 tonnes of US soyabeans to China for delivery in the 2019/20 marketing year that began on Sept. 1.
The USDA, in a separate weekly report, said total export sales of US soyabeans in the week to Sept. 19 were 1,038,000 tonnes, toward the high end of a range of trade expectations for 800,000 to 1.3 million tonnes. The total included 391,400 tonnes to China.
Most actively traded November soyabean futures were up 0.5% at $8.89-3/4 a bushel at 11:10 a.m. CDT (1610 GMT) at the Chicago Board of Trade. The most-active corn contract was down 1.1% at $3.70 a bushel on technical selling, traders said.
CBOT wheat climbed 1.3% to $4.83-1/2 to break a run of five sessions of declines. K.C. hard red winter wheat futures traded higher and MGEX spring wheat declined as traders unwound spreads between the markets. Profit-taking pressured MGEX December spring wheat after the market reached a two-month high on concerns about excessive rains hurting the crop's quality. The contract was down 1% at $5.48-3/4.