Soybeans and wheat firm, corn subdued as weather watched

Chicago soybean futures inched up on Thursday, underpinned by a lower dollar and higher crude oil as traders assessed broadly favourable crop weather in South America. Corn ticked down while wheat rose, with the latter supported by mixed crop conditions in Australia and Russia. Prices remained in a narrow range. Traders awaited clearer indications on potential trade tariffs under U.S. President-elect Donald Trump’s upcoming administration and also looked ahead to monthly U.S. crop data on Tuesday. The most-active soybean contract on the Chicago Board of Trade (CBOT) Sv1 was up 0.3% at $9.86-3/4 a bushel by 1155 GMT. CBOT wheat Wv1 added 0.8% to $5.52-1/2 a bushel while corn Cv1 inched down 0.1% to $4.29-3/4 a bushel. The soybean market has faced pressure from rain that has helped planting in top producer Brazil. Several private forecasters have raised their harvest outlook over the past week. Concerns about future Chinese demand for U.S. soybeans have weighed on the market, ...