The most active corn contract for December delivery fell 1.5 cents, or 0.31 percent, to settle at 4.7975 U.S. dollars per bushel. December wheat was unchanged from the previous trading day to settle at 5.89 dollars per bushel. November soybean rose 5 cents, or 0.39 percent, to settle at 13.0275 dollars per bushel.
CBOT agricultural markets continue to do very little ahead of the release of U.S. Department of Agriculture stocks data on Friday. Final U.S. wheat, barley and oat production will also be published as well as a revision to final 2022 U.S. soybean production. Weather's importance in South American will increase in October.
Both the bulls and bears are struggling for leverage. Chicago-based research company AgResource increasingly recommends sourcing supply coverage on weakness.
Board crush margins at and above 2.00 dollars per bushel and crush margins in the cash market at and above 3.00 dollar since July are working to maintain a sizable expansion in U.S. crush capacity.
Lite and moderate showers will linger in the eastern Midwest into Thursday. Dryness and abnormal warmth then will blanket the whole of the Central U.S. during the opening week of October. Rapid harvesting is anticipated.
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