SYDNEY: U.S. wheat futures fell on Wednesday, though signs of improved demand for North American supplies and potential planting delays provided a floor to losses.
Corn also declined, extending losses into a second straight session, while soybeans also fell.
The most active wheat futures on the Chicago Board Of Trade were down 0.2 percent at $4.68-1/2 a bushel. Wheat closed down 0.1 percent on Tuesday after prices earlier rose to $4.78 a bushel - the highest since Feb. 25.
"The threat of planting delays and Egypt buying U.S. wheat means the losses are being kept in check," said a
Melbourne-based grains trader. He declined to be named as he is not authorised to talk to the media.
Egypt's state grains buyer said on Tuesday it bought 120,000 tonnes of U.S. soft red wheat in an international purchase tender
Snow covering much of North Dakota, the United States' biggest wheat-producing state, could mean a delay in planting spring wheat if there is a sudden thaw.
The most active soybean futures were down 0.2 percent at $8.99-1/4 a bushel, having closed down 0.6 percent on Tuesday.
The most active corn futures were down 0.3 percent to $3.76-1/4 a bushel, having closed down 0.7 percent in the previous session.
Farmers from Missouri to South Dakota have seen their corn and soybean fields flooded as winter snow melts, a sign of what may be in store for North Dakota.
Traders are awaiting further details from U.S.-China trade talks. A U.S. trade delegation will visit China starting on Thursday for the next round of negotiations.
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