US soyabean futures rose advanced on Tuesday ahead of a monthly crop outlook from the US government that may show increased export demand for the oilseed. Corn and wheat futures slipped.
The US Department of Agriculture is expected to raise its forecast for 2015/16 and 2016/17 US corn ending stocks, while lowering its forecast for 2015/16 US soyabean stocks, according to analysts surveyed by Reuters.
While US corn inventories are expected to balloon above 2 billion bushels by the end of the 2016/17 marketing year, soyabean stocks should be tighter due to export demand from China and crop problems in South America.
"There's obviously a lot of speculation and debate surrounding the export estimates so pay close attention to the numbers," said Kevin Van Trump, chief executive of Missouri-based consultancy Farm Direction.
Chicago Board of Trade November soyabean futures, the most active contract, rose 11 cents to $10.66 a bushel by 10:10 CDT (1510 GMT).
The most actively traded December corn contract slipped 3-1/2 cents to $3.52 a bushel, while September wheat eased 2-1/2 cents $4.28 a bushel before the USDA issues its data at noon Eastern Daylight Time (1600 GMT).
Soyabean traders have been jittery about any signs of hot, dry summer weather that could stress crops and further tighten supplies in the United States and globally after harvest losses in South America.
US wheat has been recovering from a 10-year low hit last week amid strong harvest yields in the United States and the Black Sea region.