Corn and soybean futures edged a bit higher on Wednesday, with wheat also stronger on the day.
Strength in soymeal and gains in crude oil helped to lift soybeans, although the market remained anchored by large US production prospects. The lack of Chinese demand also continues to overhang the soybean market. To date, China has made no purchases of 2025-crop US soybeans. September beans gained 2 cents to $10.15, and November was up 2 ¼ cents at $10.36.
The advances in crude also lent support to corn, with trade also awaiting the latest in-field reports from the ongoing Pro Farmer crop tour, which winds up on Thursday. September corn inched a ½-cent higher to $3.80, and December was up ¾ of a cent at $4.04.
Wheat saw gains across all exchanges amid short covering. September Chicago was up 7 cents to $5.05 ½, and September Kansas City added 1 ¼ cents to $5.00 ¾. September Hard Red Spring jumped 9 ¾ cents to $5.32, and September Minneapolis gained 1 ½ cents to $5.70.
