Investing.com - U.S. soybean futures rose for the first time in five sessions on Thursday, as investors returned to the market to seek cheap valuations in wake of recent losses.
On the Chicago Mercantile Exchange, U.S. soybeans for August delivery tacked on 0.44%, or 5.85 cents, to trade at $13.2125 a bushel during U.S. morning hours.
The August soybean contract lost 0.98%, or 13.0 cents, on Wednesday to settle at $13.1460.
Prices of the oilseed fell to a five-month low of $13.0500 on July 1 after the U.S. Department of Agriculture projected U.S. soybean seedings at a record-high 84.8 million acres, up from a prior forecast for about 81.49 million acres.
Meanwhile, U.S. corn for September delivery inched up 0.25%, or 1.02 cents, to trade at $4.1363 a bushel.
The September corn contract fell to $4.1000 a bushel on Wednesday, the weakest level since January 10, before trimming losses to settle at $4.1220, down 0.9%, or 3.6 cents.
Prices of the grain lost more than 6% this week after the USDA reported that domestic corn stockpiles totaled 3.854 billion bushels on June 1, 39% higher than the year-earlier level.
Elsewhere on the CBOT, U.S. wheat for September delivery advanced 0.65%, or 3.73 cents, to trade at $5.7913 a bushel. The September contract ended Wednesday’s session up 0.52%, or 3.0 cents, to settle at $5.7540.
Wheat prices slumped to a five-month low of $5.6740 on June 30 after the USDA said U.S. farmers planted approximately 56.47 million acres with the grain, up from a prior estimate of 55.815 million.
Corn is the biggest U.S. crop, followed by soybeans, government figures show. Wheat was fourth, behind hay.