Wheat futures easing as traders stake out positions ahead of USDA report.
Corn futures traded higher for much of the overnight trading session, but gave up most of their gains after the forecast for Brazil's corn crop topped market expectations.
Wheat futures rising on bargain buying after most-active contract fell 2.3% on Monday, its biggest daily percentage drop since March 30. Strength in corn market underpins wheat.
The US Agriculture Department said that the US winter wheat crop was rated 48% good to excellent as of May 2, down 1 percentage point from a week ago.