BEIJING: Chicago soybean and corn futures were flat on Wednesday, hovering near three-year lows ahead of a key USDA report as South American harvest pressure continues to drag the market.

Wheat slipped after ending lower in the previous session. Traders are awaiting the US Department of Agriculture’s (USDA) monthly supply-and-demand report on Friday to assess the latest estimates on corn and soy production in South America.

“Limited changes are expected for the U.S balance sheets with a focus on updates to South American production,” Bergman Grains Research said in a note.