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Soybeans rise, prices near highest since mid-November

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Expectations of Chinese demand underpin prices

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USDA anticipates farmers will plant more soybeans, less

corn in

2026

(Updates for market close)

By Heather Schlitz

CHICAGO, Feb 19 (Reuters) - Chicago soybean ​futures rose

for a third consecutive day on ‌Thursday to hover near the

previous session's three-month high, as projections of Chinese

buying and a ⁠strong soybean crush provided support, but

forecasts of high plantings capped ⁠prices.

Wheat also gained on short covering while corn ‌ticked lower

on technical ‌trading.

The most-active soybean contract on the Chicago Board of

Trade closed 7-1/2 cents higher to $11.41 ​per bushel,

after having hit its ‌highest since mid-November on Wednesday.

"The Chinese story is in the background, but as we come out

of Lunar New ​Year, the trade will be ​paying attention ‌to whether

the Chinese are interested in U.S. soy or not," said Jason Ward,

director of Northstar Commodity.

Earlier this month, U.S. ⁠President Donald Trump said China

was considering making an additional purchase ⁠of 8 million

metric tons.

In January, the U.S. soybean crush touched a record high for

the first month of the year, while soyoil stocks hit their

highest since April 2023, according to monthly National Oilseed

Processors ⁠Association ‌data issued on Tuesday.

The U.S. Department of Agriculture ‌projected soybean

plantings for 2026 at 85.0 million acres, up from 81.2 ⁠million

last year - a six-year low - and slightly above an analyst

average estimate of 84.9 million.

Wheat settled 12-1/2 cents higher to $5.59-1/2 a

bushel, and corn settled 1-1/4 cents lower at $4.25-3/4

per bushel.

U.S. farmers, punished by slumping prices after last year's

huge corn harvest, are expected to reduce their plantings of

corn in 2026 ​as they brace for a fourth straight year of narrow

profit margins or even losses.