Investing.com - U.S. grain futures were mixed on Monday, as investors readjusted positions ahead of the U.S. Department of Agriculture’s closely-watched monthly supply and demand report due later in the day.
The agency will also issue the quarterly grain stocks report and estimate spring plantings for corn and soybeans. Typically, the two reports result in big swings in prices and traders are squaring their books ahead of the release
On the Chicago Mercantile Exchange, US soybeans for May delivery rose 0.17%, or 2.5 cents, to trade at $14.3888 a bushel during U.S. morning hours.
The May soybean contract ended Friday’s little changed to settle at $14.3640 a bushel.
Soybeans prices have been well-supported in recent sessions amid concerns over tightening U.S. supplies due to robust export demand.
Meanwhile, US corn for May delivery inched down 0.32%, or 1.6 cents, to trade at $4.8938 a bushel. The May corn contract was flat on Friday to settle at $4.9200 a bushel.
Elsewhere on the CBOT, US wheat for May delivery fell to a daily low of $6.8913 a bushel, the weakest level since March 24, before trimming losses to trade at $6.8938, down 0.84%, or 5.8 cents.
The May wheat contract lost 2.11%, or 15.0 cents, on Friday to settle at $6.9540 a bushel as forecasts for more rains eased concerns over the health of the U.S. winter-wheat crop.
Corn is the biggest U.S. crop, followed by soybeans, government figures show. Wheat was fourth, behind hay.