US soybeans higher following trade talks announcement

CHICAGO, Jan. 4 -- Chicago Board of Trade (CBOT) soybean futures traded higher on Friday morning, following confirmation that China and the United States will hold vice ministerial level trade consultations next week.

China has been the world's top soybean buyer. Any positive development concerning the trade talks between the two sides will boost US soybean prices.

CBOT soybeans have also found support in drier weather conditions in Brazil, another leading soybean grower.

As of 1635 GMT, soybeans for March delivery were up 7.25 cents to 9.20 US dollars per bushel. March wheat was up 4.75 cents at 5.185 dollars per bushel. March corn was up 3 cents at 3.8275 dollars per bushel.