CBOT March soybeans were up 3 cents at $9.10 a bushel after reaching $9.13-1/2, its highest level since Dec. 20. CBOT March corn was up 3 cents at $3.78-3/4. Soybeans ticked higher as the oilseed market assessed weather risks for Brazilian crops and sought evidence of more Chinese purchases of US supplies as part of a trade truce.
China last month resumed large purchases of US soybeans after Washington and Beijing agreed to a 90-day truce in a trade dispute that has brought tit-for-tat tariffs on goods including soybeans, the most valuable US agricultural export to China.
Chatter about further Chinese purchases has buoyed soy futures at the turn of the year.
However, a partial government shutdown in the United States has prompted the US Department of Agriculture (USDA) to suspend daily and weekly export sales reports, depriving traders of potential confirmation of further deals.
"Traders are trying to verify the rumours of Chinese soybean import interest from the US We don't see it reflected in the cash market," Reilly said.
The USDA will decide on Friday whether to delay a series of crop reports scheduled for release on January 11.
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