US grain futures rose on Wednesday as the US Federal Reserve's pledge to keep interest rates near zero for the next two years bolstered investor confidence in the markets. Traders also evened positions on ahead of the US Department of Agriculture's supply-demand report on Thursday that will provide the first survey-based estimates for corn and soybean production this year.
Wheat for September delivery rose 1.4 percent in the second day of gains after a five-sessions losing streak, climbing 9-1/4 cents to $6.81 per bushel at the Chicago Board of Trade and touching nearly a one-week high. Wheat futures also gained at the Kansas City Board of Trade and at the Minneapolis Grain Exchange even as equities plunged. CBOT September corn was up 3-1/4 cents at $6.81-1/2 per bushel while November soybeans eased 2-1/4 cents to $12.97-1/2.
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