SYDNEY: U.S. corn edged lower on Wednesday, though losses were checked by fears that dry weather across a key producing region could stoke further production losses.
Wheat fell to a three-week low, while soybeans declined despite fears of the impact of forecast adverse weather.
The most active corn futures on the Chicago Board Of Trade were down 0.1 percent to $3.90-1/4 by 0237 GMT after gaining 0.7 percent in the previous session. Despite the drop in corn, analysts said opaque weather forecasts across the U.S. Midwest were not reassuring, raising fears of further damage to crops.
"Weather forecasters are having a hard time reconciling different projections into a confident forecast," said Tobin Gorey, director of agricultural strategy at Commonwealth Bank of Australia.
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