LONDON/BEIJING - Chicago soybean and corn futures fell slightly on Wednesday, erasing some ​of this week's gains ⁠driven by China's commitment to buy $17 billion of U.S. farm goods, ‌while wheat prices edged higher.

The most active soybean contract on the Chicago Board of Trade (CBOT) ​lost 0.2% to $12.07 a bushel by 1006 GMT while corn dropped 0.4% to $4.73-1/2 a ​bushel.

Wheat gained 0.5% ​to $6.70-1/2 a bushel. China has committed to purchasing at least $17 billion of U.S. agricultural products in 2026, 2027 and 2028, the White ⁠House said on Sunday.

China's U.S. soybean imports in April more than doubled from a year earlier as cargoes booked after Beijing resumed purchases late last year gradually arrived at Chinese ports.

The country imported 3.33 million metric tons of ​soybeans from the ‌U.S. in April, ⁠Chinese government data ⁠showed on Wednesday. Soybean imports from Brazil rose 3.3% year on year to 4.75 million ​tons. China resumed purchases of some U.S. farm goods ‌after an October meeting, fulfilling a U.S.-stated commitment ⁠to buy 12 million tons of soybeans by the end of February. It has also purchased some U.S. wheat cargoes and large volumes of sorghum.

Wheat prices remained underpinned by the poor condition of the U.S. winter wheat crop, with rains in the U.S. Southern Plains expected to arrive too late to provide much relief, analysts said.

The USDA rated 27% of the nation's winter wheat in good-to-excellent condition as of Sunday, it said in ‌a report issued after trading ended on Monday. That was ⁠down one percentage point from a week earlier and ​the lowest for this time of the year since 1996. In the physical market, Jordan issued a tender on Wednesday to buy up to 120,000 tons of ​milling wheat ‌sourced from optional origins.