Investing.com - U.S. soybean and corn futures edged lower on Thursday, amid speculation beneficial weather in the U.S. Midwest will speed up the pace of the harvest.
On the Chicago Mercantile Exchange, US soybeans for January delivery fell 3.27 cents, or 0.32%, to trade at $10.1513 a bushel during U.S. morning hours.
Day earlier, prices of the oilseed fell by as much as 2.35% to hit $9.9520 a bushel, the weakest level since October 27, before turning higher to end at $10.1920, up 9.4 cents, or 0.94%.
Updated weather forecasting models called for mostly dry conditions across the U.S. Midwest over the next 10 days, which should allow farmers to accelerate the pace of the harvest.
According to the U.S. Department of Agriculture, approximately 83% of the U.S. soy harvest was completed as of November 2, compared to 70% a week earlier and in line with the five-year average for this time of year.
Meanwhile, US corn for December delivery traded at $3.6863 a bushel, down 1.38 cents, or 0.37%.
Corn futures lost as much as 1.5% on Wednesday to touch $3.5900 a bushel, the lowest since October 27, before rallying to settle at $3.7020, up 5.6 cents, or 1.58%.
Nearly 65% of the U.S. corn harvest was completed as of last week, up from 46% in the preceding week and just 8% below the five-year average of 73% for this time of year, according to the USDA.
Elsewhere on the CBOT, US wheat for December delivery shed 2.12 cents, or 0.41%, to trade at $5.2188 a bushel.
Prices of the grain slumped 5.6 cents, or 1.08%, on Wednesday to close at $5.2460 a bushel.
Corn is the biggest U.S. crop, followed by soybeans, government figures show. Wheat was fourth, behind hay.