Soybean drops

SINGAPORE: Chicago soybean futures slid for a second session on Wednesday while corn edged up after closing lower the previous day, with easing concerns over planting delays in the U.S. grain belt adding pressure to grains markets.

 

Wheat slid for a third straight session with the stable condition of the U.S. hard red winter crop - despite late spring snow storms - pulling the market lower. The Chicago Board Of Trade most-active soybean contract lost 0.4 percent to $9.44-1/2 a bushel by 0322 GMT, having closed down 0.9 percent on Tuesday. Corn rose 0.1 percent to $3.69-3/4 a bushel, having closed down 1.5 percent in the previous session. Wheat fell 0.2 percent to $4.28-3/4 a bushel, having closed down 1.1 percent on Tuesday. "Farmers in the U.S. Midwest are able to plant crops as we can see from the USDA data," said Kaname Gokon from Tokyo brokerage Okato Shoji.