PARIS/BEIJING: Chicago soybean futures rose for a third session on Wednesday, supported by Chinese demand and doubts over US supply levels, analysts said.
Corn and wheat edged lower, curbed by weaker crude oil and lingering hopes of diplomatic progress to resolve war disruption to Black Sea grain trade.
The most-active soybean contract on the Chicago Board of Trade ended the overnight session up 0.6percent at USD13.26-3/4 a bushel.
Soybean prices remained supported by a rise in Chinese demand for US supplies ahead of Chinese President Xi Jinping’s expected visit to Washington later this month.
The market was also digesting a monthly industry report showing that August soybean crushing in the US was lower than expected, stirring concerns about availability of soymeal and soyoil.
Concerns over harvest delays also lent support to soybean and corn prices. Harvesting was under way across the US Midwest, but showers this week are expected to hamper field work.