US soybeans higher over progress in China trade talks

CHICAGO, Feb. 15 -- Chicago Board of Trade (CBOT) soybean futures edged higher on Friday morning over the progress in the latest round of US-China trade talks in Beijing.

CBOT soybeans had suffered double-digit losses during the previous session amid massive fund selling, which also sent corn and wheat prices significantly lower.

As of 1621 GMT, soybeans for March delivery was up 1.5 cents to 9.05 dollars per bushel. March corn was down 1 cent to 3.7375 US dollars per bushel. March wheat was down 7.5 cents to 4.995 dollars per bushel.

China and the United States held the sixth round of high-level economic and trade consultations in Beijing from Thursday to Friday.

The two sides reached consensus in principle on major issues and had specific discussions about a memorandum of understanding on bilateral economic and trade issues.

They agreed that consultations will be continued in Washington next week.