CANBERRA/PARIS: Chicago corn and soybean futures edged higher on Wednesday to trade near multi-month highs as investors monitored rain forecasts in Argentina and awaited US inflation data for more clues on interest rate policy.

Wheat prices eased after a two-day rally, capped by a backdrop of strong competition for tepid export demand.

The most active corn contract on the Chicago Board of Trade (CBOT) was up 0.4% at $4.76-1/2 a bushel at 1146 GMT. The contract reached its highest since December 2023 on Tuesday before turning lower.

CBOT soybeans rose 0.3% to $10.50-1/2 a bushel. The oilseed hit its highest since early October on Tuesday before easing like corn.

CBOT wheat dipped 0.3% to $5.44-3/4 a bushel after touching its highest in over a week on Tuesday.