Wheat and soybean futures gained on Wednesday, while corn posted just a mixed close.
Wheat recorded the strongest gains on the day, as reports said the market was supported by short covering and technical buying. Meanwhile, most of the world’s winter wheat crops are thought to be in generally in good shape, after recent scares caused by frigid temperatures, especially in the US and the Black Sea region. March Chicago gained 9 cents to $5.37 ¼, and March Kansas City was 8 cents higher at $5.38 ½. March Hard Red Spring advanced 2 ¾ cents to $5.69 ¾, and March Minneapolis was 2 ¾ cents higher at $5.70 ¼.
Soybeans put up modest gains, as the market remained underpinned by hopes for additional sales to China. March was 1 ½ cents higher at $11.24, and new-crop November was up 4 cents at $11.10 ½.
Corn drifted amid a lack of fresh news, although heavy supplies limited any upside. March was down 1 ¼ cents at $4.27 ½, and December slipped 1 ½ cents to $4.59 ¾.
