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BEIJING - Chicago soybeans and grain futures edged higher on Tuesday, as traders adjusted positions ahead of the U.S. Department of Agriculture's quarterly grain stocks report and monitored weather in the U.S. Midwest.
The most-active soybean contract on the Chicago Board of Trade (CBOT) rose 0.04% to $11.39-1/2 a bushel by 0828 GMT, while corn climbed 0.37% to $4.11-3/4 a bushel. Wheat was up 0.82% to $5.84-1/4 a bushel.
USDA's quarterly grain stocks report, due later in the day, could give traders clues on U.S. corn and soybean supply prospects for the coming season.
Analysts, on average, expect the agency to lower its corn acreage estimate and raise its soybean planting estimate. Hot weather forecast across much of the U.S. Midwest this week could stress crops and lend support to prices, though midweek showers and cooler temperatures are expected to limit damage.
Soybeans and corn came under pressure from weaker crude oil prices, given their role in biofuel production, while wheat was weighed down by the U.S. Plains harvest and ample global supplies.
In its weekly report on Monday, the USDA rated 67% of the U.S. corn crop and 65% of soybeans as good to excellent, each down one point from a week earlier and below expectations.
Winter wheat ratings held steady at 26%, while harvest progress lagged forecasts at 48% complete versus expectations of 54%.
Commodity funds were net sellers of CBOT corn, soy and wheat futures, traders said on Monday.





















