PARIS/BEIJING - Chicago corn, wheat and soybean futures edged down on Thursday as traders ​adjusted positions before widely ⁠followed U.S. government crop forecasts later in the day. Caution before the U.S. ‌Department of Agriculture's monthly supply-demand report due at 1600 GMT helped curb a rebound in grains ​from multi-month lows earlier in the week.

Subdued oil prices, as investors assessed the latest U.S. and ​Iranian strikes ​in the Middle East conflict, also removed impetus for oilseeds like soybeans that are partly used for biofuel.

The most-active corn contract on the Chicago ⁠Board of Trade was down 0.5% at $4.17 a bushel by 1012 GMT. CBOT soybeans were 0.1% lower at $11.21-1/2 a bushel and CBOT wheat was down 0.3% at $5.85-3/4 a bushel. "Trade today may be slow ahead of the USDA report due later," CM Navigator ​analyst Donatas ‌Jankauskas said. Investor caution ⁠before a European ⁠Central Bank interest rate decision and the release of U.S. producer price data contributed to subdued ​trading, according to analysts.

Favourable weather for U.S. corn and ‌soybean crops plus the start of Northern Hemisphere ⁠wheat harvesting have pressured grain markets since late May. While analysts only expect the USDA to make minor adjustments to U.S. forecasts, they anticipate the agency will raise its estimates of corn and soybean harvests in Brazil and Argentina. In Argentina, the world's leading exporter of soybean oil and meal, the Rosario grain exchange on Wednesday raised its production forecast for the 2025/26 soybean crop to 51.5 million metric tons from a previous estimate of 50 million, as better-than-expected yields boosted output.

Traders are ‌also watching for the USDA's weekly export sales figures due ⁠at 1230 GMT for an update on demand. Brisk export ​demand for U.S. corn has helped underpin the market. Prices at 1012 GMT Last Change Pct Move CBOT wheat 585.75 -1.75 -0.30 CBOT corn 417.00 -2.00 -0.48 CBOT soy 1121.50 -1.50 -0.13 Paris wheat 203.75 0.50 0.25 Paris maize 216.25 -0.25 -0.12 Paris rapeseed 527.00 -1.00 -0.19 WTI crude oil 89.35 -0.68 -0.76 Euro/dollar 1.15 0.00 -0.05 Most active contracts - Wheat, corn and soy ​U.S. cents/bushel, Paris ‌futures in euros per metric ton.