Soybean futures remained pointed lower on Wednesday, but corn managed small gains after declines earlier this week. Wheat ended mixed.
Soybeans lost ground for the third straight day as the market was pressured by demand worries. US President Donald Trump this week expanded his global trade war and reports also suggest little progress in trade talks between the US and China, the largest buyer of American soybeans. Excellent weather and crop development conditions in the American Midwest continued to undermine the soy market as well. August beans fell 12 ¼ cents to $10.09, and November lost 10 ¼ cents to $10.07 ¼.
Corn was supported by bargain hunting, after the market was pressured by good Midwest weather. September and December corn each gained 1 ¼ cents to close at $3.99 ¼, and $4.15 ½.
Wheat was little changed amid the advancing US winter wheat harvest. September Chicago wheat slipped ¾ of a cent to $5.47, September Kansas City was up 1 ½ cents at $5,24, and September Chicago spring wheat added 1 ¾ cents to $5.97.
