By Tom Polansek
CHICAGO, Sep 2 (.) – Soybean futures on the Chicago Stock Exchange advanced on Wednesday as traders said China bought cargo from the United States, while wheat futures fell on profit-taking a day later. going up to a maximum of five months.
* Chinese state-owned companies bought at least eight bulk shipments of US soybeans, or about 480,000 tonnes, for shipment in December and January, two US traders familiar with the deals told ..
* Traders and analysts will be watching for the United States Department of Agriculture (USDA) to confirm deals Thursday in its daily export sales reporting system.
* Rising corn prices are causing nervousness about food security in China, where food inflation has been the highest in more than a decade.
* Operators are aware of wheat sales, as some exporting countries, such as Argentina and France, have suffered adverse weather that has limited supply.
* “Wheat has been on a roller coaster ride,” said Arlan Suderman, chief commodities economist at broker StoneX.
* Chicago’s most active wheat contract fell 5.75 cents to close at $ 5.5825 a bushel, after rising Tuesday to a high since April 1.
* Most active soybeans advanced 7.25 cents to close at $ 9.62 a bushel and corn rose 0.75 cents to $ 3.5875 a bushel.
(Reporting by Tom Polansek in Chicago, Additional reporting by Naveen Thukral and Sybille de La Hamaide, Edited in Spanish by Javier López de Lérida)