CHICAGO, July 21 (Reuters) - U.S. winter wheat futures rose
for the sixth day in a row on Wednesday as adverse weather in
key exporting countries raised supply concerns, traders said.
Corn futures were steady to firm, with the front-month
contract ending flat while new-crop offerings rose on support
from dry soils that threatened to hamper crop development in the
"Corn belt rain events are still basically non-existent in
the two-week forecast," Matt Zeller, director of market
information at StoneX, said in a note to clients.
Soybean futures were mixed, with nearby contracts easing on
concerns about biodiesel sector profits while new-crop contracts
MGEX spring wheat futures dropped 2.0%. Traders noted that
much of the concern about the size of the crop was priced in
when the market surged to its highest since November 2012 on
"There are definitely problems for the U.S. and spring wheat
crops but we will get to know how big the problem is when the
harvest starts," a Singapore-based trader who sells U.S. wheat
to millers in Asia said.
MGEX September spring wheat ended down 18-1/4 cents
at $8.97-3/4 a bushel. Chicago Board of Trade September soft red
winter wheat was up 10-1/4 cents at $7.10-3/4 and K.C.
September hard red winter wheat was up 8-3/4 cents at
"Western Europe rains return by weekend and remain active
much of next week, reducing wheat quality & stalling harvest,"
Commodity Weather Group said in a note.
Russia's agriculture ministry said that yields from the
harvest of the country's wheat crop averaged 3.45 tonnes per
hectare as of July 20, down from 3.47 a year earlier.
CBOT December corn was up 2-1/4 cents at $5.68-1/2 a
bushel after peaking at its highest since July 2.
CBOT November soybeans were 1-1/4 cents higher at
$13.89-3/4 a bushel.
(Additional reporting by Naveen Thukral in Singapore and
Sybille de La Hamaide in Paris; Editing by Chizu Nomiyama, Will
Dunham and David Evans)