GRAINS-Chicago wheat holds firm with Black Sea export risks in focus
DBA•Corn and soybeans ease after USDA supply update
Corn futures eased after a day-earlier jump, with news that the Rosario grain exchange raised its forecast for Argentina's harvest to a record high tempering reaction to a reduced U.S. Department of Agriculture outlook for U.S. supplies.
CBOT corn Cv1 slipped 0.7% to $4.77-1/4 a bushel after surging 4.4% to a two-week high on Wednesday. CBOT soybeans Sv1 were unchanged at $11.83-1/4 a bushel after also setting a two-week peak on Wednesday.
The USDA said in a highly anticipated report that U.S. farmers would harvest their second-largest corn crop on record this autumn as lower yields were more than offset by larger plantings.
But it reduced its prediction for end-of-season U.S. stocks as it factored in brisk demand.
The USDA similarly trimmed yield and revised up acreage for soybeans in its harvest forecast.
Soybeans ticked higher.
