Investing.com - U.S. grain futures were higher on Wednesday, as investors continued to monitor weather conditions in the U.S. Midwest.
On the Chicago Mercantile Exchange, corn futures for December delivery traded at USD4.4420 a bushel, up 0.2%. Corn prices traded in a range between USD4.4263 a bushel, the daily low and a session high of USD4.4588 a bushel.
The December corn contract settled 1.49% higher on Tuesday to end at USD4.4340 a bushel as recent rainfall in major corn-growing states in the U.S. Midwest was expected to slow the pace of the harvest.
Corn futures have been on a downward trend in recent weeks amid expectations this year’s U.S. corn harvest will be the largest on record.
Prices of the grain slumped to USD4.3200 a bushel on October 14, the weakest level since August 30, 2010.
The U.S. corn crop was expected to total 13.84 billion bushels this season, 28% larger than last year’s harvest and the largest crop on record.
The U.S. Department of Agriculture’s weekly crop progress report was postponed for the second consecutive week due to the U.S. government shutdown.
Elsewhere on the CBOT, soybeans futures for November delivery traded at USD12.7240 a bushel, up 0.4%. Prices of the oilseed held in a range between USD12.6613 a bushel, the daily low and a session high of USD12.7375 a bushel.
The November soy contract ended down 0.47% at USD12.6700 a bushel on Tuesday.
Meanwhile, wheat for December delivery traded at USD6.8700 a bushel, up 0.2%. Wheat traded in a range between USD6.8413 a bushel, the daily low and a session high of USD6.8788 a bushel.
The December contract settled 0.97% lower at USD6.8560 a bushel on Tuesday.
Wheat traders continued to monitor crop conditions in the Black-Sea region.
Corn is the biggest U.S. crop, followed by soybeans, government figures show. Wheat was fourth, behind hay.
On the Chicago Mercantile Exchange, corn futures for December delivery traded at USD4.4420 a bushel, up 0.2%. Corn prices traded in a range between USD4.4263 a bushel, the daily low and a session high of USD4.4588 a bushel.
The December corn contract settled 1.49% higher on Tuesday to end at USD4.4340 a bushel as recent rainfall in major corn-growing states in the U.S. Midwest was expected to slow the pace of the harvest.
Corn futures have been on a downward trend in recent weeks amid expectations this year’s U.S. corn harvest will be the largest on record.
Prices of the grain slumped to USD4.3200 a bushel on October 14, the weakest level since August 30, 2010.
The U.S. corn crop was expected to total 13.84 billion bushels this season, 28% larger than last year’s harvest and the largest crop on record.
The U.S. Department of Agriculture’s weekly crop progress report was postponed for the second consecutive week due to the U.S. government shutdown.
Elsewhere on the CBOT, soybeans futures for November delivery traded at USD12.7240 a bushel, up 0.4%. Prices of the oilseed held in a range between USD12.6613 a bushel, the daily low and a session high of USD12.7375 a bushel.
The November soy contract ended down 0.47% at USD12.6700 a bushel on Tuesday.
Meanwhile, wheat for December delivery traded at USD6.8700 a bushel, up 0.2%. Wheat traded in a range between USD6.8413 a bushel, the daily low and a session high of USD6.8788 a bushel.
The December contract settled 0.97% lower at USD6.8560 a bushel on Tuesday.
Wheat traders continued to monitor crop conditions in the Black-Sea region.
Corn is the biggest U.S. crop, followed by soybeans, government figures show. Wheat was fourth, behind hay.