Soybeans, corn dip

CANBERRA: Chicago soybean and corn futures edged lower on Tuesday, hovering near four-year lows as traders waited to see if a widely followed crop tour this week will support expectations of bumper US production. Wheat futures also slipped as large Black Sea crops and an improvement in the condition of US wheat maintained expectations of ample supply despite poor French and German harvests.

The most-active soybean contract on the Chicago Board of Trade (CBOT) was down 0.2% at $9.74 a bushel at 0440 GMT, while CBOT corn fell 0.1% to $3.99-3/4 a bushel and wheat dipped 0.2% to $5.51 a bushel. All three contracts have slipped to their lowest levels since 2020 in recent weeks - $9.55 for soybeans, $3.90 for corn and $5.14 for wheat.