BEIJING - Chicago soybeans inched higher on Thursday, as U.S. President Donald Trump's plan ​to meet Chinese President ⁠Xi Jinping in May lifted hopes of stronger Chinese demand for ‌U.S. supplies.

Wheat and corn also gained.

The most-active soybean contract on the Chicago Board of Trade (CBOT) ​firmed 0.2% to $11.74-1/4 a bushel as of 0425 GMT. CBOT wheat gained 0.4% to $6.00-1/4 a ​bushel. Corn raised ​0.1% to $4.67-1/2 a bushel.

Initially slated to travel next week, Trump will now visit Beijing on May 14-15, he said on Truth Social ⁠on Wednesday, adding that he would host Xi for a reciprocal visit in Washington later this year.

"Some traders are optimistic that the meeting would raise the prospect for continued China buying of U.S. soybeans, but it's worth noting that ​China has shifted ‌to purchasing ⁠most of its soybeans ⁠from Brazil since last year," said a Beijing-based analyst.

China is expected to further increase imports ​of Brazilian soybeans in the first half of 2026, ‌as record production and competitive prices propel shipments.

Chinese ⁠state-owned firms have bought about 12 million metric tons of U.S. soybeans since late October, fulfilling a U.S.-stated pledge, but volumes remain well below China's purchases of roughly 23 million tons in the 2024/25 crop year.

In Brazil, the world's largest soybean producer and exporter, farmers are expected to harvest 184.7 million tons of soybeans in the 2025/2026 season, agribusiness consultancy Agroconsult said on Wednesday, raising its early-March estimate by 0.9% after completing its Rally da Safra ‌field survey.

Brazil's soybean planting area will likely remain stable ⁠in the upcoming 2026/27 season, but the scenario ​depends heavily on how long the U.S.-Israeli war on Iran lasts, Agroconsult said.

Reports of a 15-point U.S. plan to end the Iran war, following Trump's comments this ​week about talks ‌with Tehran, also boosted hopes of de-escalation in the ⁠Middle East conflict.