BEIJING: Chicago soybean futures rose on Friday and were on track for a weekly gain, ‍bolstered by higher oil ‍prices and continued Chinese demand for U.S. supplies.

Wheat and corn ​were also poised for their weekly gains as traders adjusted positions before Monday's U.S. ⁠Department of Agriculture report and monitored crop conditions across the U.S. Plains.

 

FUNDAMENTALS

* The most-active ⁠soybean contract ‌on the Chicago Board of Trade (CBOT) added 0.24% to $10.63-3/4 a bushel by 0216 GMT. Soyoil gained 0.51% to 49.7 cents per ⁠pound.

* CBOT wheat was flat at $5.18 a bushel. Corn fell 0.11% to $4.45-1/2 a bushel.

* Oil prices rose for a second day on Friday, supported by concerns over supply disruptions in Venezuela and unrest in Iranian, which ⁠also helped lift soyoil ​prices. Soyoil often tracks crude because it is used in biofuel as a substitute for fossil fuel.

* ‍On Thursday, the USDA confirmed that exporters sold 132,000 metric tons of U.S. soybeans to ​China. Traders said there was talk of bigger sales.

* Increasing competition from Brazil, which is expected to harvest a record crop, capped soybean price gains.

* Traders are anticipating the release on Monday of U.S. Department of Agriculture reports, including estimates for winter wheat plantings and last year's corn and soybean harvests.

* Analysts expect the USDA to estimate farmers planted 32.413 million acres of winter wheat for harvest in 2026, down from 33.153 million acres planted for harvest ⁠in 2025, according to a Reuters poll.

* In ‌exporter Argentina, dry weather since last month has damaged 2025-26 corn crops in western Buenos Aires province, though significant rain was forecast in coming days, ‌the Buenos Aires ⁠Grains Exchange said.

* Commodity funds were net buyers of CBOT corn, wheat, soyoil.

 

(Reporting ⁠by Ella Cao and Lewis Jackson; Editing by Subhranshu Sahu)