GRAINS-Soybeans climb on crude rally, China buying
BEIJING, June 22 (Reuters) - Chicago soybean futures rose on Monday, supported by higher crude oil prices and renewed buying interest from China last week.
Wheat gained on strong export demand and concerns over the condition of the U.S. Hard Red Winter (HRW) crop, while corn was little changed.
FUNDAMENTALS
* The most-active soybean contract on the Chicago Board of Trade (CBOT) Sv1 was up 0.53% at $11.48-3/4 a bushel, as of 0103 GMT, while corn Cv1 was little changed at $4.17-1/2 a bushel. Wheat Wv1 added 0.73% to $6.18-1/2 a bushel.
* The U.S. Department of Agriculture last week confirmed the sale of 132,000 tons of U.S. soybeans to China for delivery in the 2026/27 marketing year, marking the first publicly reported Chinese purchase since the May summit.
* Soybeans drew additional support from stronger crude oil prices, given their role in biofuel production. Oil prices rose on Monday after shipping through the Strait of Hormuz slowed, while talks between U.S. and Iranian officials, in their first meeting under an interim peace deal, were off to a bumpy start. O/R
* In Argentina, excess soil moisture in the southern region has slowed the 2025/26 soybean harvest and delayed planting of the 2026/27 wheat crop, the Buenos Aires Grains Exchange said on Thursday.
* In its weekly export sales report released Thursday, the USDA reported old-crop soybean sales of 424,869 metric tons and new-crop sales of 304,083 tons for the week ended June 11, along with old-crop corn sales of 1,157,057 metric tons and new-crop sales of 519,035 tons, while wheat sales totaled 400,844 metric tons.
* Commodity funds were net sellers of CBOT soy, corn, and wheat futures, traders said on Friday. CBOT/FUNDS
DATA/EVENTS (GMT)
0100 China Loan Prime Rate 1Y, 5Y Jun
1400 EU Consumer Confid Flash Jun
