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August 06, 2020 | Reuters
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Soy Eases on Midwest Rain Forecast

Gains in corn and wheat were limited by expectations that supplies of both crops will remain burdensome

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U.S. corn and wheat futures ticked higher on Wednesday, supported by a round of bargain buying and short-covering after posting sharp declines a day earlier, traders said.

According to a report at Reuters, soybean futures weakened to their lowest level since July 14, with forecasts in key growing areas of the U.S. Midwest calling for rains that will shepherd the crop through critical stages of development weighing on the market.

The gains in corn and wheat were limited by expectations that supplies of both crops will remain burdensome.

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