China, the world's biggest soybean importer, is likely to buy a larger volume of the oilseed from Brazil than usual for September to December, three trade sources said, as prices of new-crop U.S. shipments rise on expectations of lower supply.
U.S. corn futures fell to their lowest in nearly three weeks on Thursday as rains bolstered production prospects in the Midwest and traders braced for key acreage and stocks data due Friday from the U.S. Department of Agriculture.
Chicago corn futures edged lower on Thursday, as traders locked in profits after a recent rally over concerns about dry weather conditions in key areas of the U.S. Midwest.
Chicago soybean futures posted tepid movement in early Asian trading on Friday and were poised to post weekly gains, amid supply concerns following a drop in total production in top exporter Argentina.
U.S. corn futures rose on Tuesday as investors unwound bearish bets ahead of a key government supply and demand report at the end of the week, traders said.