Soybeans steady; corn, wheat dips

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    SINGAPORE- Chicago soybean futures were little changed on Thursday, after hitting their highest since June 2018 earlier in the session on the back of increased demand from top importer China.

    Corn eased but prices were trading close to their highest since mid-March, buoyed by crop losses in China.

    “The outlook for China’s imports of both soybeans and corn is bullish for prices,” said one Singapore-based trader at an international grains trading company. “We are revising our global supply-demand balance sheet as a result of Chinese demand.”

    The most-active soybean futures on the Chicago Board Of Trade Sv1 were down 0.02 percent at $10.11 a bushel, not far from the session high of $10.18-1/4 a bushel – the highest since June 1, 2018. Soybeans firmed 2 percent on Wednesday after data showed that China has stepped up purchases of US soybeans.