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GRAINS-Soybeans near one-week low on China demand worries
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GRAINS-Soybeans near one-week low on China demand worries
Mar 10, 2025 5:34 PM

SINGAPORE, March 11 (Reuters) - Chicago soybean futures

slid for a third consecutive session on Tuesday, with prices

dropping to their lowest in almost a week amid worries over

demand in top importer China.

Wheat and corn also fell.

FUNDAMENTALS

* The most-active soybean contract on the Chicago Board of

Trade (CBOT) lost 0.3% to $10.10-3/4 a bushel as of 0014

GMT. It had dropped to its lowest since March 5 at $10.10 a

bushel earlier in the session.

* Wheat fell 0.6% to $5.59-1/4 a bushel and corn

gave up 0.2% to $4.71 a bushel.

* China's consumer price index in February missed

expectations and fell at the sharpest pace in 13 months, while

producer price deflation persisted. This has heightened concerns

over soybean demand in China, by far the world's top importer.

* Market players are waiting for the U.S. Department of

Agriculture monthly supply/demand report due later in the day.

The report will consider trade policies in place when the

forecasts for grains and soybeans are issued, an agency official

said on Thursday.

* Russian wheat export prices continued to decline for the

second week in a row, but they have yet to regain

competitiveness against European grains.

* Traders also were keeping a close eye on concerns about

dryness in U.S. and Russian crop belts - particularly in parts

of the U.S. southern plains, where hard red wheat crops are

growing and will need moisture.

* However, India is likely to produce a record 115.4 million

metric tons of wheat in 2025, the farm ministry said on Monday,

as higher state-set guaranteed prices prompted farmers to expand

the area planted with high-yielding seed varieties.

* Commodity funds were net buyers of CBOT corn and wheat

futures contracts on Monday, and net sellers of soybean, soymeal

and soyoil futures, traders said.

MARKET NEWS

* Stocks slumped globally on Monday, while U.S. bond yields

dropped as investor worries about the potential economic

slowdown were exacerbated after President Donald Trump did not

rule out a recession resulting from his tariffs.

DATA/EVENTS

No major data/events expected for Tuesday, March 11

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