Issue 223 - 25.10.2021
25.10.2021

China expects to attract over 1t yuan of foreign investment this year

China is expected to attract more than 1 trillion yuan ($156.51 billion) of foreign investment this year, and in US dollar, foreign investment into China is likely to exceed $160 billion for the year, said Zong Changqing, director-general of the department of foreign investment administration of the Ministry of Commerce on Friday.

Zong told a news conference that a recent survey conducted by the ministry among 3,000 key foreign enterprises showed about 93.3 percent of them are optimistic about their future development in China.

According to some reports released by foreign chambers of commerce such as that of the United States, the European Union, and Japan, nearly two-thirds of US enterprises, 59 percent of European enterprises, and 36.6 percent of Japanese enterprises plan to expand their investment in China, he said.

Foreign investment flows into China have achieved substantial growth in the first three quarters, and the ministry expects the scale of foreign investment in the whole year will exceed 1 trillion if things remain normal, he said.

China aims to become a major foreign investment destination in the world and an innovation and high-end manufacturing hub in East Asia by 2035, with remarkable improvements in both the quantity and quality of foreign investment utilization, according to a new development plan for using foreign investment during the 14th Five-Year Plan period (2021-25), which was unveiled by the Ministry of Commerce on Friday.

The country will aim to attract a total of $700 billion in foreign investment during the 14th Five-Year Plan period. By 2025, high-tech sectors are expected to account for 30 percent of total foreign investment inflows, up from 29.6 percent in 2020.

The development plan said that pilot free trade zones and ports are set to account for about 19 percent of total foreign investment inflows by 2025, up from 17.9 percent in 2020.

"China is likely to attract more than 1 trillion yuan of foreign investment this year, and in US dollars, the foreign investment is expected to exceed $160 billion,"Zong Changqing, director-general of the department of the foreign investment administration of the ministry, said at a media conference on Friday.

As China vows to promote opening-up in more areas and at a deeper level, the plan called for continuously expanding market access while improving the "pre-establishment national treatment plus negative list" management system for foreign investment. The management system puts areas unsuitable for opening on a "negative list", while treating foreign investors no less favorably than Chinese investors at the "entrance stage".

There will be further reductions in the national, pilot free trade zone and port versions of the negative lists for foreign investment, and the country will further open up the manufacturing, services and agriculture sectors, while gradually easing foreign investment shareholding limits to allow foreign investors a controlling stake or sole ownership in more areas.

The plan also called for improving the transparency of the negative lists, and strictly adhering to the principle of "no prohibition means allowing foreign investment to enter" in areas not included on the negative lists.

The plan urged expanding market access in key areas, with efforts to orderly promote the further opening-up of sectors such as telecommunications, the internet, education, culture and medical care, and reduce requirements in areas such as personnel qualifications in sectors including law and transportation.

It also called for steadily promoting opening-up in financial sectors such as banking, securities, insurance, funds and futures, and steadily strengthening opening-up in the capital market, such as lowering requirements for quality foreign investors to strategically invest in listed companies.

Zhou Mi, a senior researcher at the Chinese Academy of International Trade and Economic Cooperation in Beijing, said the plan has sent a clear signal that China will adjust its policy environment to promote foreign investment in the nation.

"Apart from better legislation and implementation of laws and regulations, it is also important to enhance construction of related platforms, coordinate policies from different government departments, and promote the free flow of production factors," Zhou said. Those platforms include pilot free trade zones, national economic and technological development zones, and various trade and investment expos.

Zhou Xiaolan, executive vice-president of Bayer Pharmaceuticals, and also president of Bayer Group in China, said that Bayer, which increased its investment in China by more than 400 million yuan ($62.58 million) last year despite challenges mainly caused by COVID-19, believes the nation holds even greater opportunities for foreign companies during the 14th Five-Year Plan period.

"We've expanded production capacity at our pharmaceutical plant in Beijing, and have also accelerated the use of innovative digital solutions to ensure a reliable supply of Bayer's pharmaceutical products, to address the higher demand of Chinese people in terms of healthcare solutions,"Zhou said.

China's non-financial outbound direct investment went down 5.2 percent year-on-year in the first nine months of this year, official data showed Thursday.

The ODI amounted to 522.76 billion yuan (about $80.78 billion) in the period, according to the Ministry of Commerce.

By Liu Zhihua on October 23 2021 for the China Daily.

China, Pacific

25.10.2021

China’s vocational education reform creates foreign investment opportunities

Although China is tightening regulations on academic tutoring for school-age students, it is simultaneously encouraging private investment in vocational education. China believes upskilling its workforce is key to the country’s continued economic growth. Foreign investment is explicitly welcome in the vocational education sector.

On October 12, 2021, the Communist Party Central...

Although China is tightening regulations on academic tutoring for school-age students, it is simultaneously encouraging private investment in vocational education. China believes upskilling its workforce is key to the country’s continued economic growth. Foreign investment is explicitly welcome in the vocational education sector.

On October 12, 2021, the Communist Party Central...

25.10.2021

Minimum wages in China continue to grow

So far, in 2021, the provinces of Heilongjiang, Hubei, Jiangsu, Jiangxi, Ningxia, Shanxi, Shaanxi, Tibet, Xinjiang, Zhejiang, Shandong, Jilin, as well as the cities of Beijing and Tianjin have raised their minimum wage standards. Meanwhile,  the city of Chengdu stated it would adjust its minimum wages this year.

Currently, 

So far, in 2021, the provinces of Heilongjiang, Hubei, Jiangsu, Jiangxi, Ningxia, Shanxi, Shaanxi, Tibet, Xinjiang, Zhejiang, Shandong, Jilin, as well as the cities of Beijing and Tianjin have raised their minimum wage standards. Meanwhile,  the city of Chengdu stated it would adjust its minimum wages this year.

Currently, Shanghai has the highest...

25.10.2021

China’s provincial GDP growth rates signal steady recovery, challenges

Local GDP growth paces in Chinese provinces showed a mixed performance in the first three quarters of 2021, with eight of the 23 provincial level economies that have released quarterly GDP figures expanding at speeds above the national average of 9.8 percent, though a series of challenges, including new COVID-19...

Local GDP growth paces in Chinese provinces showed a mixed performance in the first three quarters of 2021, with eight of the 23 provincial level economies that have released quarterly GDP figures expanding at speeds above the national average of 9.8 percent, though a series of challenges, including new COVID-19...

25.10.2021

China vows to ensure fair competition

The State Administration for Market Regulation, the nation's top market regulator, has said it will further improve the enforcement of the fair competition policies and enhance the antimonopoly efforts to continuously regulate the competitive behaviors in key areas, including the platform economy.

Zhang Gong, director of the State Administration for Market...

The State Administration for Market Regulation, the nation's top market regulator, has said it will further improve the enforcement of the fair competition policies and enhance the antimonopoly efforts to continuously regulate the competitive behaviors in key areas, including the platform economy.

Zhang Gong, director of the State Administration for Market...

25.10.2021

China’s experience getting more attention in UN, says program officer

China’s experience in various fields such as anti-desertification and climate change has attracted more and more attention in the United Nations (UN), a UN official told Xinhua in a recent interview.

Jia Xiaoxia, program officer at the UN Convention to Combat Desertification (UNCCD), began to work with the UN in 2018...

China’s experience in various fields such as anti-desertification and climate change has attracted more and more attention in the United Nations (UN), a UN official told Xinhua in a recent interview.

Jia Xiaoxia, program officer at the UN Convention to Combat Desertification (UNCCD), began to work with the UN in 2018...

25.10.2021

Multinationals eye opportunities in China's consumption market

From introducing imported products to China in the early years, adjusting the product formulation to meet Chinese consumers' needs, to the current export of goods made in Chinese factories, P&G's change has witnessed the development of China's consumption market.

The potential of China's consumption market has created unlimited opportunities for the...

From introducing imported products to China in the early years, adjusting the product formulation to meet Chinese consumers' needs, to the current export of goods made in Chinese factories, P&G's change has witnessed the development of China's consumption market.

The potential of China's consumption market has created unlimited opportunities for the...

25.10.2021

China's crude oil output picks up in September

China's crude oil production rose 3.2 percent year-on-year to 16.61 million tons in September, according to the National Bureau of Statistics (NBS).

The growth rate was up by 0.9 percentage points from the previous month, and the country's daily average output of crude oil came in at 554,000 tons.

In the first...

China's crude oil production rose 3.2 percent year-on-year to 16.61 million tons in September, according to the National Bureau of Statistics (NBS).

The growth rate was up by 0.9 percentage points from the previous month, and the country's daily average output of crude oil came in at 554,000 tons.

In the first...

25.10.2021

China’s oil and gas giants gear up for winter

The major oil and gas companies in China, the world's largest natural gas consumer, are increasing their overseas gas supply to ensure a steady supply of power this winter.

China Petroleum and Chemical Corp, also known as Sinopec and the world's largest refiner by volume, said it planned to purchase 13.3...

The major oil and gas companies in China, the world's largest natural gas consumer, are increasing their overseas gas supply to ensure a steady supply of power this winter.

China Petroleum and Chemical Corp, also known as Sinopec and the world's largest refiner by volume, said it planned to purchase 13.3...

25.10.2021

China holds stable forex market in focus

China is keeping a watchful eye on any monetary policy adjustments in the United States and will make countercyclical adjustments to keep the foreign exchange market stable if necessary, officials and experts said on Friday.

"This round of the US Federal Reserve's policy adjustments will neither alter China's generally balanced international...

China is keeping a watchful eye on any monetary policy adjustments in the United States and will make countercyclical adjustments to keep the foreign exchange market stable if necessary, officials and experts said on Friday.

"This round of the US Federal Reserve's policy adjustments will neither alter China's generally balanced international...

25.10.2021

China enhances equity financing for innovative startups

China will make greater efforts to improve the regulatory framework of the private fund industry as part of systemic moves to beef up the role of equity financing in serving innovative startups, officials said on Thursday.

Wang Jianping, an official at the China Securities Regulatory Commission, said the CSRC will roll...

China will make greater efforts to improve the regulatory framework of the private fund industry as part of systemic moves to beef up the role of equity financing in serving innovative startups, officials said on Thursday.

Wang Jianping, an official at the China Securities Regulatory Commission, said the CSRC will roll...

25.10.2021

China stocks recover on Evergrande relief

China’s stock markets rose on Friday, led by property shares, as China Evergrande Group unexpectedly supplied funds for a bond interest payment, while comments from the banking regulator also underpinned the property market.

Evergrande has supplied funds to pay interest on a U.S. dollar bond, a person...

China’s stock markets rose on Friday, led by property shares, as China Evergrande Group unexpectedly supplied funds for a bond interest payment, while comments from the banking regulator also underpinned the property market.

Evergrande has supplied funds to pay interest on a U.S. dollar bond, a person with direct knowledge of the matter told Reuters on...

25.10.2021

China's fiscal revenue up 16.3 pct in first nine months

China's fiscal revenue logged a year-on-year increase of 16.3 percent in the first nine months of the year, official data showed Friday.

The country's fiscal revenue amounted to 16.4 trillion yuan (about 2.56 trillion U.S. dollars) during the period, according to data from the Ministry of Finance.

Tax revenue came in at...

China's fiscal revenue logged a year-on-year increase of 16.3 percent in the first nine months of the year, official data showed Friday.

The country's fiscal revenue amounted to 16.4 trillion yuan (about 2.56 trillion U.S. dollars) during the period, according to data from the Ministry of Finance.

Tax revenue came in at...

25.10.2021

China's fintech innovation boosts real economy

The 2021 Annual Conference of Financial Street Forum, which concluded in Beijing on Friday, highlighted the importance of fintech innovation to serving the high-quality development of the real economy through more convenient and inclusive financing.

"Now, thanks to tailor-made applications developed by banks, small and micro enterprises are able to obtain...

The 2021 Annual Conference of Financial Street Forum, which concluded in Beijing on Friday, highlighted the importance of fintech innovation to serving the high-quality development of the real economy through more convenient and inclusive financing.

"Now, thanks to tailor-made applications developed by banks, small and micro enterprises are able to obtain...

Eurasia

25.10.2021

Russia’s coal & gas supplies to China buffered by transport limits

Beijing has been in talks with Moscow on increasing fossil fuel deliveries to China. However, despite Russia’s readiness to cooperate, transportation problems may hinder the efforts, the Russian ambassador to China says.

“The Chinese economy is quite rapidly recovering from the [Covid-19] pandemic crisis [but] there are certain imbalances that no...

Beijing has been in talks with Moscow on increasing fossil fuel deliveries to China. However, despite Russia’s readiness to cooperate, transportation problems may hinder the efforts, the Russian ambassador to China says.

“The Chinese economy is quite rapidly recovering from the [Covid-19] pandemic crisis [but] there are certain imbalances that no...

25.10.2021

Polar Silk Road eyes new vision amid global challenges

The Polar Silk Road has recently gained renewed attention following its rapid growth in supporting regional economy and securing energy supplies amid volatility throughout global supply chains posed by an ongoing pandemic in many parts of the world.

During the recent 2021 Arctic Circle Assembly hosted in Iceland, the Polar Silk Road,...

The Polar Silk Road has recently gained renewed attention following its rapid growth in supporting regional economy and securing energy supplies amid volatility throughout global supply chains posed by an ongoing pandemic in many parts of the world.

During the recent 2021 Arctic Circle Assembly hosted in Iceland, the Polar Silk Road,...

25.10.2021

New China-Ukraine direct rail link signals Europe’s changing geopolitical dynamics

Earlier this year, President Xi Jinping of China, and Ukraine’s Volodymyr Zelensky discussed strengthening infrastructure connectivity and signed off an agreement to do so. Zelensky stated that Ukraine could become a “bridge to Europe” for Chinese investment. That has now been partially realized with the first direct train from China...

Earlier this year, President Xi Jinping of China, and Ukraine’s Volodymyr Zelensky discussed strengthening infrastructure connectivity and signed off an agreement to do so. Zelensky stated that Ukraine could become a “bridge to Europe” for Chinese investment. That has now been partially realized with the first direct train from China...

Europe

25.10.2021

EU in talks with China to avoid magnesium crunch

European top officials, worried about the effect a global shortage of magnesium will have on the European Union’s industrial recovery from the pandemic, have open talks with China, which supplies the block with about 95% of the silvery-white metal used to make aluminum. 

European top officials, worried about the effect a global shortage of magnesium will have on the European Union’s industrial recovery from the pandemic, have open talks with China, which supplies the block with about 95% of the silvery-white metal used to make aluminum. 

Local companies, including Norway’s Norsk Hydro, have stopped producing magnesium because they were unable to compete with lower costs at Chinese producers. 

Top of Form

That...

25.10.2021

BP signs long-term deal with Shenzhen Gas

BP signed a gas sales and purchase agreement with Shenzhen Sino-Benny LPG Co Ltd on Wednesday, the first long-term deal with price indexed to international LNG in China's domestic gas market, to support China's growing energy needs.

Under the terms of the agreement, starting from 2023, BP will provide Sino-Benny, a...

BP signed a gas sales and purchase agreement with Shenzhen Sino-Benny LPG Co Ltd on Wednesday, the first long-term deal with price indexed to international LNG in China's domestic gas market, to support China's growing energy needs.

Under the terms of the agreement, starting from 2023, BP will provide Sino-Benny, a...

25.10.2021

China-Mongolia border port handles 8,000 China-Europe freight trains

Erenhot, the largest land port on the China-Mongolia border, has logged 8,000 China-Europe freight trains since the cross-border railway service via this port was launched in 2013, according to the local railway authorities.

The 8,000th train passing through the port has departed from Putian city in East China's Fujian province for...

Erenhot, the largest land port on the China-Mongolia border, has logged 8,000 China-Europe freight trains since the cross-border railway service via this port was launched in 2013, according to the local railway authorities.

The 8,000th train passing through the port has departed from Putian city in East China's Fujian province for...

25.10.2021

Germany’s Boehringer Ingelheim to debut signature products in China

German biopharmaceutical company Boehringer Ingelheim will hold global and Asian debuts for signature products among other innovative solutions during the fourth China International Import Expo, a move signifying the "long-term commitment to China", according to a senior company executive.

The first innovative vial for the mixing of swine vaccines in animal...

German biopharmaceutical company Boehringer Ingelheim will hold global and Asian debuts for signature products among other innovative solutions during the fourth China International Import Expo, a move signifying the "long-term commitment to China", according to a senior company executive.

The first innovative vial for the mixing of swine vaccines in animal...

South Asia, Middle East

25.10.2021

China-ASEAN relations expect another exciting 30 years

The China-ASEAN relations are at a new starting point and will enter another exciting 30 years, said Chinese ambassador to the Association of Southeast Asian Nations (ASEAN) Deng Xijun.

The two sides shall further unleash the energy and potential of the relations with more active steps and more innovative measures, and...

The China-ASEAN relations are at a new starting point and will enter another exciting 30 years, said Chinese ambassador to the Association of Southeast Asian Nations (ASEAN) Deng Xijun.

The two sides shall further unleash the energy and potential of the relations with more active steps and more innovative measures, and...

25.10.2021

First passenger train runs between Kunming and Vientiane

On the 16th of October, the first Laos-China Railway passenger train departed from Kunming, headed for Vientiane. The construction of this new line, a major Belt and Road Initiative (BRI) project, took five years to complete. Several tests will be conducted on this new line before its inauguration on the...

On the 16th of October, the first Laos-China Railway passenger train departed from Kunming, headed for Vientiane. The construction of this new line, a major Belt and Road Initiative (BRI) project, took five years to complete. Several tests will be conducted on this new line before its inauguration on the 2nd of December, Laos’s...

25.10.2021

Indonesia’s railway project overruns costs

In spite of previous promises, the Indonesian government will partly finance construction of the Jakarta-Bandung railway line. In September 2021, President Joko Widodo gave his consent for allocation of state funds to this project, although a 2015 decree barred this action.

Construction of a high-speed railway on the island...

In spite of previous promises, the Indonesian government will partly finance construction of the Jakarta-Bandung railway line. In September 2021, President Joko Widodo gave his consent for allocation of state funds to this project, although a 2015 decree barred this action.

Construction of a high-speed railway on the island of Java, connecting...

Africa, Americas

25.10.2021

China-Africa trade seen bouncing back from Covid-19

China’s trade with Africa could return to pre-pandemic levels as economies heal from its devastating impact if recent momentum is maintained.

In the first eight months of the year, total two-way trade between China and African countries grew by 40 per cent year on year to US$162.7 billion, according to...

China’s trade with Africa could return to pre-pandemic levels as economies heal from its devastating impact if recent momentum is maintained.

In the first eight months of the year, total two-way trade between China and African countries grew by 40 per cent year on year to US$162.7 billion, according to Chinese customs data.

In...

25.10.2021

China’s supply chain crunch impacts African businesses

The world of international trade is currently dealing with a perfect storm of challenges on multiple fronts. This is having adverse consequences for global supply chains, many of which rely on exports to and imports from China – where much of the friction is emanating from.

With the rollout of global...

The world of international trade is currently dealing with a perfect storm of challenges on multiple fronts. This is having adverse consequences for global supply chains, many of which rely on exports to and imports from China – where much of the friction is emanating from.

With the rollout of global...

25.10.2021

China, US urged create conditions to push trade deal

Phase-1 of the economic and trade agreement between China and the United States-signed in January 2020-can be mutually beneficial as well as benefit the rest of the world, so the two sides should join hands to create conditions to promote its implementation, China's Ministry of Commerce said on Thursday.

Shu Jueting,...

Phase-1 of the economic and trade agreement between China and the United States-signed in January 2020-can be mutually beneficial as well as benefit the rest of the world, so the two sides should join hands to create conditions to promote its implementation, China's Ministry of Commerce said on Thursday.

Shu Jueting,...

25.10.2021

US Abbott to debut bevvy of new innovations in China

Chicago-based healthcare company Abbott announced on Tuesday that it will exhibit dozens of innovative healthcare solutions, including more than 10 that will be making their China debut, at the 4th China International Import Expo (CIIE) held in Shanghai from Nov 5 to 10.

Major exhibits will include the world's first Bluetooth-enabled...

Chicago-based healthcare company Abbott announced on Tuesday that it will exhibit dozens of innovative healthcare solutions, including more than 10 that will be making their China debut, at the 4th China International Import Expo (CIIE) held in Shanghai from Nov 5 to 10.

Major exhibits will include the world's first Bluetooth-enabled...

25.10.2021

Stock markets see last moment relief on China hopes

European stocks finished higher on Friday with investors cheering news of an interest payment by debt-ridden China Evergrande Group and brushed aside a survey that showed growth in euro zone business activity slowed in October due to inflation fears.

The pan-European Stoxx 600 was up by 0.46% to 471.88, alongside a 0.46% gain...

European stocks finished higher on Friday with investors cheering news of an interest payment by debt-ridden China Evergrande Group and brushed aside a survey that showed growth in euro zone business activity slowed in October due to inflation fears.

The pan-European Stoxx 600 was up by 0.46% to 471.88, alongside a 0.46% gain...

Markets

25.10.2021

Dollar stagnant on ambiguous US Federal Reserve policy

The dollar pared losses onFriday after Federal Reserve Chairman Jerome Powell said the U.S. central bank should begin reducing its asset purchases soon, but should not yet raise interest rates.

Powell said employment is still too low and high inflation will likely abate next year as pressures from the COVID-19 pandemic...

The dollar pared losses onFriday after Federal Reserve Chairman Jerome Powell said the U.S. central bank should begin reducing its asset purchases soon, but should not yet raise interest rates.

Powell said employment is still too low and high inflation will likely abate next year as pressures from the COVID-19 pandemic...

25.10.2021

Brent posts momentary, weekly gains

Oil traded just below multi-year highs on Friday with bullish sentiment about low supplies tamped by concerns from world leaders that demand disruptions from the COVID-19 pandemic may not be over.

Brent crude futures rose 92 cents, or 1.1%, to settle at $85.53 a barrel. The benchmark, which touched a three-year...

Oil traded just below multi-year highs on Friday with bullish sentiment about low supplies tamped by concerns from world leaders that demand disruptions from the COVID-19 pandemic may not be over.

Brent crude futures rose 92 cents, or 1.1%, to settle at $85.53 a barrel. The benchmark, which touched a three-year...

25.10.2021

Sharp rise in demand pushes North Sea region’s natural gas prices up

British and European wholesale gas prices firmed on Friday morning, supported by forecasts of higher demand the next few days, with curve contracts mixed amid lingering supply uncertainty for this winter.

The British day-ahead price for gas gained 7 pence to 210.00 pence per therm by 0912 GMT.

The TTF equivalent was...

British and European wholesale gas prices firmed on Friday morning, supported by forecasts of higher demand the next few days, with curve contracts mixed amid lingering supply uncertainty for this winter.

The British day-ahead price for gas gained 7 pence to 210.00 pence per therm by 0912 GMT.

The TTF equivalent was...

25.10.2021

Bullion up, silver peaks on US monetary blur

Gold prices more than halved their session gains on Friday after U.S. Federal Reserve Chair Jerome Powell said he expected inflation to ease next year and that the U.S. central bank was on track to begin winding down its stimulus.

Spot gold was up 0.6% at $1,793.82 per ounce by 1:41...

Gold prices more than halved their session gains on Friday after U.S. Federal Reserve Chair Jerome Powell said he expected inflation to ease next year and that the U.S. central bank was on track to begin winding down its stimulus.

Spot gold was up 0.6% at $1,793.82 per ounce by 1:41...

25.10.2021

Bulls get back on base metal markets as supply concerns return

Copper prices bounced on Friday on renewed worries about scarce supplies and as the dollar weakened.

Three-month copper on the London Metal Exchange was up 0.9% at $9,915 a tonne by 1000 GMT, after dropping by 3.5% in the previous session.

Metals prices slid on Thursday, partly due to intervention by China to...

Copper prices bounced on Friday on renewed worries about scarce supplies and as the dollar weakened.

Three-month copper on the London Metal Exchange was up 0.9% at $9,915 a tonne by 1000 GMT, after dropping by 3.5% in the previous session.

Metals prices slid on Thursday, partly due to intervention by China to...

25.10.2021

EU wheat prices up on vivid trade activity

Euronext wheat rose on Friday to set fresh contract highs, supported by a rally in Chicago and latest import tender news.

December milling wheat was up 1.5% by 1506 GMT at 280.75 euro ($326.99) a tonne, a life-of-contract peak.

March, now the most active position on Paris-based Euronext, was at a new contract...

Euronext wheat rose on Friday to set fresh contract highs, supported by a rally in Chicago and latest import tender news.

December milling wheat was up 1.5% by 1506 GMT at 280.75 euro ($326.99) a tonne, a life-of-contract peak.

March, now the most active position on Paris-based Euronext, was at a new contract...

25.10.2021

Bulls stick to US benchmark cereals contracts

Chicago soybean futures ticked higher on Friday and were set for their biggest weekly gain in two months on strong demand for U.S. supplies and near record edible oil prices.

Wheat and corn gained ground and both markets were poised for their first weekly gains in three.

The most-active soybean contract on...

Chicago soybean futures ticked higher on Friday and were set for their biggest weekly gain in two months on strong demand for U.S. supplies and near record edible oil prices.

Wheat and corn gained ground and both markets were poised for their first weekly gains in three.

The most-active soybean contract on...