Soybeans and corn edge up, wheat eases back towards 5-year low

Chicago soybean and corn futures ticked higher on Thursday, supported by brisk U.S. soy crushing and doubts over U.S. corn supply, though trade tensions between Washington and Beijing plus disruption to U.S. data limited price moves. Wheat eased for a second session to approach a five-year low, with ample supply expected in exporting countries hanging over the market. The most-active soybean contract on the Chicago Board of Trade was up 0.4% to $10.10 a bushel as of 1122 GMT. CBOT corn was up 0.1% to $4.17 per bushel, rising for a third day to recover from a seven-week low on Tuesday. CBOT wheat was down 0.6% at $4.95-3/4 a bushel, near Tuesday’s five-year low of $4.92-1/4. “The market continues to look for direction, awaiting clarity on U.S.–China trade negotiations,” commodity data firm CM Navigator said in a note. “Final U.S. corn and soybean yield estimates could also become major price drivers, though it remains unclear when they will be released given the ongoing government ...