PARIS/SINGAPORE - Chicago soybean and corn futures inched lower on Wednesday as traders adjusted positions before closely watched U.S. government crop data while assessing chances for rain relief in parched South American growing belts.
Wheat also ticked down.
The Chicago Board of Trade's (CBOT) most-active soybean contract was down 0.5% at $13.80-1/4 a bushel by 1054 GMT.
CBOT corn Cv1 edged down 0.3% to $5.99-1/2 a bushel, consolidating around the psychological $6 threshold.
Hot, dry conditions in southern Brazil and Argentina have raised doubts about harvest prospects, although weather charts showing rainfall from the end of this week have tempered crop concerns.
Brazilian food supply and statistics agency Conab on Tuesday lowered its 2021/2022 forecast for the country's soybean and corn production, and attention is now on the U.S. Department of Agriculture's (USDA) supply and demand
The USDA will at the same time release quarterly estimates of U.S. grain stocks and a projection of U.S. wheat sowings.
CBOT fell 0.5% to $7.66-3/4 a bushel.
Wheat futures had risen on Tuesday as renewed demand from importers helped prices pull away from 2-1/2 month lows struck last week.
However, farm office FranceAgriMer on Wednesday lowered its monthly of French soft wheat exports in 2021/22.
(Reporting by Gus Trompiz in Paris and Naveen Thukral in Singapore; Editing by Sherry Jacob-Phillips, Kirsten Donovan) ((naveen.thukral@thomsonreuters.com; +65-6870-3829; Reuters Messaging: naveen.thukral.gus.trompiz@thomsonreuters.com; +33 1 49 49 52 18; Reuters Messaging: gus.trompiz.thomsonreuters.com@reuters.netthomsonreuters.com@reuters.net rm://naveen.thukral.thomsonreuters.com@reuters.net))
