Soybean lowers

SINGAPORE: Chicago soybean futures edged lower on Wednesday, giving up the previous session´s gains as record Brazilian production and improving weather in Argentina boosted world supply prospects.

Wheat lost ground against the backdrop of abundant supplies in key exporting countries, while corn ticked higher.

The Chicago Board of Trade most-active soybean contract fell 0.3 percent to $10.21 a bushel by 0229 GMT, trading close to Monday´s more than two-week low.

Wheat fell 0.2 percent to $4.20 a bushel and corn added 0.1 percent to $3.60 a bushel.

Soybeans are under pressure from improving South American crop weather.

Worries about flooding in Argentina´s soy belt lifted soybean futures to a six-month high on Jan. 18, but values have since retreated.

The line-up of vessels expected to load soybeans at Brazilian ports over the next month shows a spike in shipments to around twice the level of a year ago due to a speedy harvest and strong global demand.

Brazilian soybean exports come as a direct challenge to U.S. overseas sales.