Some producers held back corn while awaiting direction from Chicago Board of Trade (CBOT) corn. Futures were rangebound ahead of the US Department of Agriculture's (USDA) monthly supply/demand reports on Friday.
Light farmer sales of soybeans underpinned bids at most Midwest processors and elevators. A Decatur, Illinois processor lowered soybean bids by 3 cents per bushel after filling inventories.
Most soybean bids at Midwest river terminals held steady, but bids at a Seneca, Illinois elevator dipped as warmer temperatures in the region thaw some frozen rivers in the state - allowing for increased barge traffic.
Caution before Friday's USDA grain reports and generally favorable weather in Brazil's crop growing regions pressured CBOT soybean for a third day in a row.
Analysts on average expect the USDA to raise its forecast of US 2017-18 soybean ending stocks, and raise its estimate of Brazil's soybean crop.