CBOT agricultural futures higher as US-China trade talks start in Washington

CHICAGO -- Chicago Board of Trade (CBOT) agricultural futures traded higher on Wednesday morning as the United States and China kicked off a new round of high-level trade talks in Washington.

As of 1548 GMT, the most active corn contract for March delivery was up 3.75 cents at $3.81 per bushel, March wheat was up 1.5 cents at $5.1475 while March soybeans were up 3 cents at $9.22 per bushel.

"All eyes will be on US-China negotiations in the next 48 hours and all markets will be sensitive to comments made on either side," AgResource, a Chicago-based agricultural research firm, wrote in a morning commentary.

China has been the top buyer of US soybeans for years. Farmers and traders believe that positive outcome of bilateral talks could lead to higher Chinese demand for US agricultural products.