Investing.com - U.S. soybean futures traded near a four-year low on Wednesday, as expectations of record yields across much of the U.S. grain belt continued to weigh.
On the Chicago Mercantile Exchange, U.S. soybeans for November delivery fell 0.78%, or 8.03 cents, to trade at $10.2338 a bushel during U.S. morning hours.
The November soy contract fell to $10.1960 a bushel on August 26, a level not seen since September 2010, as ongoing expectations for a record U.S. harvest weighed.
According to the U.S. Department of Agriculture, this fall's U.S. harvest will reach an all-time high of 3.82 billion bushels.
Meanwhile, U.S. corn for December delivery dropped 0.97%, or 3.52 cents, to trade at $3.5988 a bushel.
Prices fell to a four-year low of $3.4800 a bushel on August 12 after the USDA estimated the corn harvest at 14.03 billion bushels, which would break last year's record of 13.93 billion.
The agency also said it expected average corn yields of 167.4 bushels per acre, above an all-time high of 164.7 in 2009.
Elsewhere on the CBOT, U.S. wheat for December delivery slumped 1.35%, or 7.53 cents, to trade at $5.4788 a bushel following reports that Ukraine and Russia had reached a ceasefire agreement in eastern Ukraine.
Corn is the biggest U.S. crop, followed by soybeans, government figures show. Wheat was fourth, behind hay.