JAKARTA- Chicago soybean futures inched higher on Wednesday after a four-session slide, with prices supported by reports of lower exports from top exporter Brazil and higher European imports, although a strong US soy harvest limited the gains.
Wheat futures edged higher, while corn traded sideways.
“The US (soybean) crop may turn out bigger than expected. On top of this, we have oil prices sliding again globally, which keep a lid on soybeans,” said Ole Houe, director of advisory services at IKON Commodities in Sydney.
The most-active soybean contract on the Chicago Board of Trade (CBOT) was up 0.31 percent at $9.82 a bushel. Wheat gained 0.53 percent to $5.73-1/2 a bushel, while corn was unchanged at $4.13-3/4 a bushel.
Soybean exports from Brazil in October were seen lower than the previous estimate, data from the country’s grains exporter association ANEC showed.
