Investing.com - U.S. corn rose for the fourth consecutive session on Wednesday to trade at the highest level in almost four weeks, as prices were boosted by bullish chart signals.
On the Chicago Mercantile Exchange, US corn for May delivery touched an intraday peak of $3.9500 a bushel, the most since February 27, before trading at $3.9463 during U.S. morning hours, up 1.43 cents, or 0.36%.
A day earlier, US corn for May delivery inched up 3.0 cents, or 0.77%, to end at $3.9320.
Corn is up more than 5% in the three sessions leading to Wednesday, as a bout of technical buying kicked in after futures broke above key moving-averages.
Meanwhile, US wheat for May delivery tacked on 0.23 cents, or 0.04%, to trade at $5.2363 a bushel.
On Tuesday, wheat plunged 10.4 cents, or 1.97%, to settle at $5.2340 after the U.S. Department of Agriculture revealed that winter-wheat crop conditions improved last week.
According to the USDA, Oklahoma winter wheat was rated 44% good to excellent as of last week, up from 40% in the previous week, while Texas winter wheat improved by 4% to 55%.
In Kansas, the top wheat-producing state, the wheat crop was rated 41% good to excellent, unchanged from the preceding week.
Elsewhere on the Chicago Board of Trade, US soybeans for May delivery advanced 0.68 cents, or 0.07%, to trade at $9.8188 a bushel.
US soybeans for May delivery dipped 1.6 cents, or 0.18%, on Tuesday to close at $9.8160.
Optimism over the outlook for supplies in Brazil and Argentina combined with indications over a slowdown in demand for U.S. soybeans have weighed on prices in recent weeks.
Brazil and Argentina are major soybean exporters and compete with the U.S. for business on the global market. Large South American crop prospects could weigh on demand for U.S. supplies.
Corn is the biggest U.S. crop, followed by soybeans, government figures show. Wheat was fourth, behind hay.