US soyabean futures turned higher on Thursday after dropping to their lowest prices of the year on concerns about weak export demand and large harvests in South America.
Corn futures were near unchanged, while wheat futures touched a one-month low at the Chicago Board of Trade.
Soya prices edged higher on position evening ahead of a three-day weekend, with trading subdued before US markets close for Good Friday, traders said.
Yet large global supplies continued to hang over the markets, a day after Argentina projected its soya harvest would climb from last year's drought-reduced crop.
In the United States, soyabean ending stocks have swelled over the past year due to competition for export business from South American suppliers and as the US-China trade hurt shipments of US soya to Chinese buyers.
The most active soyabean futures on the Chicago Board of Trade were up 3/4-cent at $8.79-3/4 a bushel by 12:15 p.m. CDT (1715 GMT). The contract hit its lowest price since Dec. 26. The most active CBOT corn contract was down 1/2-cent at $3.66-1/2 a bushel. CBOT wheat was down 4 cents at $4.46-1/4 a bushel.
Wheat was hovering near a one-month low struck earlier this week, as a broadly favourable harvest outlook in the northern hemisphere weighed on prices.
Traders were also eyeing demand data as the US Department of Agriculture reported US wheat export sales in the week ended April 11 were in line with analysts' expectations and corn sales topped estimates.
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