Global grain and oilseed markets

On Friday, basis levels for soybeans increased in the U.S. Midwest, while corn prices were mixed as futures declined. Analysts note that soybeans and corn came under pressure as this week's price increase triggered a wave of sales by producers. Chicago Mercantile Exchange soybean futures closed lower on Friday amid waves of farmer sales and profit-taking after the benchmark November contract reached a monthly high, traders reported, while market participants await upcoming U.S.-China trade talks, the world's largest buyer of soybeans. November soybean futures on the CBOT fell by 3 cents to $10.41 3/4 per bushel. However, over the week, the contract rose by 22-1/4 cents, or 2.2%, amid hopes for a trade agreement between the U.S. and China. December CBOT soybean meal futures rose by $1.80 to $294.10 per short ton, while December soybean oil futures fell by 0.60 cents to 50.27 cents per pound. Analysts note that this week's price increase triggered a wave of sales of soybeans and ...