Soybeans in positive territory after hitting one-week low
Gains limited by US supplies, slow pace of Chinese demand
Adds quote in paragraph 3, updates prices
By Naveen Thukral
SINGAPORE, Nov 17 (Reuters) - Chicago soybeans inched higher on Monday, rebounding after hitting a one-week low earlier in the session on bargain buying, although forecasts of a bumper U.S. crop and slower Chinese buying trimmed gains.
Corn and wheat futures edged higher.
"The U.S. has a big crop to sell, but we have yet to see big purchases being made by Chinese companies," a Singapore-based oilseed trader said.
The most-active soybean contract on the Chicago Board of Trade (CBOT) Sv1 rose 0.1% to $11.25-3/4 a bushel, as of 0339 GMT, having hit it lowest since November 7 earlier in the session.
Corn Cv1 added 0.1% to $4.30-1/2 a bushel and wheat Wv1 was up 0.2% to $5.42-3/4 a bushel.
U.S. farmers are expected to reap a record-large corn crop this year, though the U.S. Department of Agriculture (USDA) slightly lowered its forecast for U.S. corn and soybeans on Friday, in the first official estimates of the nation's two most valuable crops since mid-September, before the harvest had taken shape.
The USDA lowered its production estimate for country's corn crop to 16.752 billion bushels, from 16.814 billion bushels a month earlier.
For soybeans, the it projected at 4.253 billion bushels, down from 4.301 billion bushels.
The agency also sent out a six-week summary of daily U.S. agricultural sales, offering some clarity on China's recent U.S. soybean buying.
The USDA data showed exporters sold 100,000 metric tons of soybeans to China for 2025/2026 delivery on October 30. They sold 232,000 metric tons of soybeans to China for 2025/2026 on November 3.
Reuters has previously reported that China has begun modest purchases of U.S. farm goods, but Beijing has not confirmed the White House's announcement of 12 million tons of soybean purchases by year-end.
However, President Donald Trump said that China would buy U.S. soybeans and other farm products and that Washington and Beijing had talks on the subject on Friday.
(Reporting by Naveen Thukral; Editing by Rashmi Aich)
((naveen.thukral@thomsonreuters.com; +65-6870-3829; Reuters Messaging: naveen.thukral.thomsonreuters.com@reuters.net))