Corn futures edged lower in early trading at Chicago Board of Trade on Wednesday, snapping a streak of four straight days of gains as traders locked in profits from the rally that pushed prices to their highest level in more than two years. Soyabean futures rose for the fifth straight day, buoyed by strong export demand and a rally in the crude oil market. Soya prices touched their highest level since August 2009. Wheat futures also rose, supported by a falling dollar.
CBOT trends at 10:11 am CDT (1511 GMT) on Wednesday. December wheat up 5-3/4 cents at $7.15-3/4 a bushel. Iraq buys 200,000 tonnes of wheat from United States, Australia and Ukraine, said grain official. December corn down 3/4 cent at $5.78-1/4 a bushel. November soyabeans up 8 cents at $11.86-1/2 a bushel; January up 7-3/4 at $11.97-1/4.
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