Investing.com - U.S. soybean futures declined on Wednesday to trade near a one-week low amid receding concerns over Brazilian export prospects, as a two-week strike by Brazilian truck drivers appeared to be coming to an end.
On the Chicago Mercantile Exchange, US soybeans for May delivery shed 6.88 cents, or 0.68%, to trade at $10.0613 a bushel during U.S. morning hours.
A day earlier, soybean prices touched $10.0200, the lowest level since February 24, before ending at $10.1220, down 1.4 cents, or 0.15%.
Brazilian police said there were only seven protests affecting federal highways on Tuesday, down from 18 on Monday and well below peaks of more than 100 a week ago.
Brazil is a major soybean exporter and competes with the U.S. for business on the global market, which could weigh on demand for U.S. supplies.
Meanwhile, US wheat for May delivery dropped 4.62 cents, or 0.91%, to trade at $5.0138 a bushel. On Tuesday, the May wheat contract ticked up 6.0 cents, or 1.2%, to close at $5.0600 a bushel.
Wheat has been under pressure in recent weeks amid ample global supplies and indications of reduced demand for U.S. wheat.
Elsewhere on the Chicago Board of Trade, US corn for May delivery inched down 1.07 cents, or 0.28%, to trade at $3.8913 a bushel. US corn for May delivery advanced 3.0 cents, or 0.77%, on Tuesday to settle at $3.9100.
Corn is the biggest U.S. crop, followed by soybeans, government figures show. Wheat was fourth, behind hay.