Soyabean futures on the Chicago Board of Trade were lower early on Thursday on technical selling and spillover pressure from a downturn in crude oil, traders said. Corn futures edged higher on light positioning ahead of the US Department of Agriculture's monthly supply/demand reports on Friday, which were expected to show a decline in projected US corn and soyabean inventories.
CBOT wheat was choppy, losing ground to Kansas City and Minneapolis as the hard wheat markets rose on export demand and concerns about poor weather in Australia and the US Plains. CBOT trends at 10:25 am CST (1625 GMT) on Thursday. December wheat up 3-1/4 cents at $7.45-1/4 a bushel; March down 1-1/2 at $7.82-1/2. Choppy, with CBOT wheat trailing KCBT and MGEX markets amid global demand for hard wheat. KCBT March up 4 cents at $8.41-1/2; MGEX March spring wheat up 5 at $8.67-3/4. December corn up 1/4 cent at $5.59-3/4 per bushel; March down 3/4 at $5.73-3/4. January soyabeans down 6-1/2 cents at $12.89-1/2 per bushel.
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