CHICAGO: Chicago soybeans inched higher on Wednesday, bouncing from two days of declines, though the recovery was limited by rain improving weather forecasts in the US Midwest.

Wheat prices fell, pressured by increased export activity from Ukraine, while corn traded near even.

The most-active soybean contract on the Chicago Board of Trade (CBOT) added 13-1/4 cents to $13.94-1/4 a bushel by 12:07 p.m. (1707 GMT).

CBOT corn gained 2-1/2 cents to $6.12-3/4 a bushel, while CBOT wheat fell 17-1/4 to $7.85-1/2 a bushel.

Forecasts for rain this week in dry western parts of the US Midwest pressured soybean prices, as the crop finishes filling out through the end of August.

Wheat prices have also been curbed by a bumper harvest in Russia, despite uncertainty over how much it will export this season.