US Soybean Futures Fall Despite Weekly Gain Expectations

US soybean futures fell on Friday, but are still expected to rise for the week due to strong Chinese demand. The Chicago Board of Trade's (CBOT) most active soybean contract dropped 0.25% to $13.16-1/4 a bushel at 0106 GMT.

Despite this decline, the contract is up 1.54% on the week, driven by China's increasing need for US soybeans ahead of the meeting between Xi Jinping and Donald Trump next week.

US Treasury Secretary Scott Bessent announced that he would be meeting his Chinese counterpart at the weekend, adding to the market's focus on Sino-US relations.

In other news, wheat prices fell 0.34% to $7.24-1/2 per bushel and were down 0.1% for the week as traders assessed the risks of shipping in the Black Sea area.