SYDNEY/PARIS: US grains were stable or slightly lower on Wednesday as traders remained on the sidelines ahead of a widely watched US government report.
Corn and wheat were unchanged at $3.66-1/2 a bushel and $4.29-1/2 respectively while soybeans fell by 0.1 percent to $9.73 a bushel after a 1 percent gain in the previous session.
"The market is cautious of taking positions ahead of the US Department of Agriculture (USDA) report later in the session," said Andrew Woodhouse, grains analyst at Advance Trading Australasia.
The USDA's supply/demand report on Wednesday will include the government's first official crop production and usage estimates for the 2017/18 marketing year.
Wet conditions that have slowed planting in some crop areas added support. The USDA on Monday said the US soybean crop was 14 percent planted, behind the five-year average of 17 percent and an analysts' consensus of 16 percent.
Wheat was supported by a weak dollar but remained under pressure on fears of widespread production losses as a result of a recent frost ease.
The government also reported that the US spring wheat crop was 54 percent planted, behind the five-year average of 60 percent but well above the average trade expectation of 45 percent.
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