Investing.com - U.S. soybean and futures extended losses into a third session on Wednesday, as optimism over the pace of the U.S. harvest continued to weigh.
On the Chicago Mercantile Exchange, US soybeans for January delivery fell by as much as 1.3% earlier to touch a daily low of $9.9663 a bushel, the weakest level since October 27.
Prices recovered to last trade at $9.9838 a bushel during U.S. morning hours, down 10.57 cents, or 1.05%.
Prices of the oilseed tumbled 20.0 cents, or 1.94%, on Tuesday to end at $10.0960 a bushel.
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 $3.6038 a bushel, down 3.83 cents, or 1.05%. Prices fell to a session low of $3.5913 earlier, a level not seen since October 27.
A day earlier, corn futures lost 9.0 cents, or 2.41%, to settle at $3.6440 a bushel.
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.
Corn and soybean prices have been under pressure in recent days as dry weather is allowing farmers to make rapid progress harvesting corn and soybeans following rain delays.
Elsewhere on the CBOT, US wheat for December delivery shed 3.77 cents, or 0.71%, to trade at $5.2663 a bushel.
Prices of the grain slumped 7.6 cents, or 1.44%, on Tuesday to close at $5.3040 a bushel.
Corn is the biggest U.S. crop, followed by soybeans, government figures show. Wheat was fourth, behind hay.