CANBERRA: US soybean futures edged higher on Thursday, as rains were expected to slow harvesting across Brazil, stoking worries about short-term supply crunch of the oilseed.

FUNDAMENTALS

• The most active soybean futures on the Chicago Board Of Trade were up 0.5% to $14.14-1/4 a bushel by 0218 GMT, having closed down 0.4% on Wednesday.

  • The most active corn futures were up 0.3% to $5.37 a bushel, having closed down 1.8% in the previous session.

  • The most active wheat futures were up 0.3% at $6.58-1/4 a bushel, after closing down 1.5% on Wednesday.

• Rain are delaying Brazil's harvest.

• The US Department of Agriculture (USDA) will release its latest weekly export sales data later in the day.

  • US soybean sales in the week ended Feb. 25 are expected to total 100,000 to 800,000 tonnes, according to analysts.

• Weekly sales are estimated at 450,000 to 1.05 million tonnes for corn and 100,000 to 600,000 tonnes for wheat.