Chicago soybean futures gained more ground on Friday with the market poised for a fifth week of gains, underpinned by expectations of higher Chinese demand, reports Reuters.
Wheat was on track for a fourth weekly gain as the market was supported by declining condition of the US winter crop.
Soybeans posted annual gains of 6.8% in 2019, while wheat rose 11% and corn firmed 3.4% over the year at the CBOT.
Condition ratings for winter wheat declined from late November to late December in most US Plains states, the USDA said on Thursday, reflecting dry conditions in some areas.
Traders are waiting for the agency to issue crop production data on Jan. 10 amid uncertainty about the size of the autumn corn harvest, which was delayed by cold, wet weather.
