CANBERRA/PARIS: Chicago wheat futures extended losses on Tuesday, on easing supply concerns in the southern hemisphere but prices were still heading for their first monthly rise since July.

Soybeans and corn were nearly unchanged with soy set for a small monthly gain and corn little changed over the month.

Rain in Argentina has removed the threat of further yield loss there, helping send prices lower in recent days.

The most-active wheat contract on the Chicago Board of Trade (CBOT) was 1% lower at $5.60 a bushel by 1145 GMT but up 3.4% for the month.

CBOT soybeans were unchanged at $13.07-3/4 a bushel while corn was also flat at $4.78-1/2 a bushel.

The US Department of Agriculture (USDA) rated 47% of the US winter wheat crop in good to excellent condition, the highest for this time of year since 2020.

The USDA also said the US soybean harvest was 85% complete and the corn harvest was 71% complete, both ahead of their five-year averages.

Meanwhile, Brazil’s 2023/24 soybean planting reached 40% of the expected area by last Thursday, consultants AgRural said, adding that sowing lags levels last year, when 46% of the areas had been planted by the same time.