Investing.com - U.S. grain futures were steady on Wednesday, as traders continued to monitor weather conditions across major grain-growing regions in the U.S. amid concerns over U.S. crop prospects.
On the Chicago Mercantile Exchange, wheat for July delivery traded at USD7.0900 a bushel, down 0.1% on the day. The July contract was trapped in a range between USD7.0663 a bushel, the daily low and a session high of USD7.1238 a bushel.
Wheat futures rallied to a three-week high of USD7.1437 a bushel on Monday amid ongoing concerns over U.S. crop prospects.
The USDA said that approximately 32% of the U.S. winter wheat crop was rated “good” to “excellent” as of last week, below the 52% recorded in the same week a year earlier.
Winter-wheat crops in “very poor” to “poor” conditions rose to 43% from 43% in the preceding. Only 18% of the winter-wheat crop was rated “very poor” to “poor” in the same week a year earlier.
Meanwhile, soybeans futures for July delivery traded at USD15.2875 a bushel, little changed on the day. The July contract held in a range between USD15.2338 a bushel, the daily low and a session high of 15.3238 a bushel.
The oilseed hit a seven-month high of USD15.4637 a bushel on May 23 amid ongoing concerns over U.S. planting prospects.
According to the USDA, nearly 57% of the U.S. soy crop was planted as of last week, significantly below the 93% planted in the same week a year earlier.
The five-year average for this time of year is 74%.
Elsewhere on the CBOT, corn futures for July delivery traded at USD6.6238 a bushel, up 0.3% on the day. The July contract traded in a tight range between USD6.5838 a bushel, the daily low and a session high of USD6.6363 a bushel.
The USDA said Monday that 91% of the U.S. corn crop was planted as of June 2, up from 86% planted in the preceding week. The five-year average for this time of the year is 95%.
Corn is the biggest U.S. crop, followed by soybeans, government figures show. Wheat was fourth, behind hay.
On the Chicago Mercantile Exchange, wheat for July delivery traded at USD7.0900 a bushel, down 0.1% on the day. The July contract was trapped in a range between USD7.0663 a bushel, the daily low and a session high of USD7.1238 a bushel.
Wheat futures rallied to a three-week high of USD7.1437 a bushel on Monday amid ongoing concerns over U.S. crop prospects.
The USDA said that approximately 32% of the U.S. winter wheat crop was rated “good” to “excellent” as of last week, below the 52% recorded in the same week a year earlier.
Winter-wheat crops in “very poor” to “poor” conditions rose to 43% from 43% in the preceding. Only 18% of the winter-wheat crop was rated “very poor” to “poor” in the same week a year earlier.
Meanwhile, soybeans futures for July delivery traded at USD15.2875 a bushel, little changed on the day. The July contract held in a range between USD15.2338 a bushel, the daily low and a session high of 15.3238 a bushel.
The oilseed hit a seven-month high of USD15.4637 a bushel on May 23 amid ongoing concerns over U.S. planting prospects.
According to the USDA, nearly 57% of the U.S. soy crop was planted as of last week, significantly below the 93% planted in the same week a year earlier.
The five-year average for this time of year is 74%.
Elsewhere on the CBOT, corn futures for July delivery traded at USD6.6238 a bushel, up 0.3% on the day. The July contract traded in a tight range between USD6.5838 a bushel, the daily low and a session high of USD6.6363 a bushel.
The USDA said Monday that 91% of the U.S. corn crop was planted as of June 2, up from 86% planted in the preceding week. The five-year average for this time of the year is 95%.
Corn is the biggest U.S. crop, followed by soybeans, government figures show. Wheat was fourth, behind hay.