Chicago corn futures rebounded in Asian trading on Thursday after two sessions of sharp losses, with traders awaiting US weekly export sales data later in the day and US acreage and quarterly grain stocks reports on Friday for further direction.
Gains were however capped as forecasts for beneficial rains in the US Midwest eased persistent worries about dry weather hurting the crop.
The most-active corn contract on the Chicago Board of Trade (CBOT) was up 1 percent at $5.42 a bushel, after tumbling more than 4 percent in the previous session.
Soybeans gained 0.6 percent to $12.72 a bushel, also recovering from a two-session slump, while wheat added 0.2 percent at $6.71 a bushel after a four-session sell-off amid signs of rising global supply.
CBOT corn, soybeans and wheat, however, remained on track for weekly losses even as prices, analysts said, are expected to continue fluctuating.
Earlier this week, brokers were seen squaring positions ahead of the US acreage and quarterly stocks reports due on Friday from the US Department of Agriculture.
