BEIJING- Chicago soybeans and corn ticked up on Thursday as traders adjusted positions ahead of key monthly crop reports from the US Department of Agriculture (USDA).
Wheat futures eased, after hitting a one-week high in the previous session amid signs of easing supply pressure from the Black Sea export region.
The most-active soybeans contract on the Chicago Board of Trade (CBOT) was up 0.2 percent at $10.02-1/2 a bushel, and corn also edged 0.19 percent higher to $4.05-1/2 a bushel.
The wheat contract on the Chicago Board of Trade (CBOT) eased 0.13 percent to $5.78.1/2 a bushel.
The northern hemisphere wheat harvest pressure is easing and the market is refocusing on tight supplies in the EU and a smaller Russian crop than we’ve seen the last few years, Bergman Grains Wires said in a note.
Consultancy IKAR lowered its forecast for Russia’s wheat crop to 82.2 million metric tons from 83.8 million tons, citing adverse weather.
