Corn Rises on Harvest Delays as Wheat Falls on Trump's Diplomatic Efforts

Corn prices saw some support on Wednesday due to potential lingering rains and flooding in central Iowa that could cause delays in early harvests. December corn futures rose by 3 cents to $5.33 1/4, nearing its daily high.

The soybean market also experienced a corrective bounce, with November soybeans rising by 7 3/4 cents to $13.04 1/4 and hitting a two-year high for the contract. December soybean meal rose by $3.40 to $356.20, nearing its daily high.

However, wheat prices took a hit due to reports that President Trump has urged Russia and Ukraine to stop attacking each other's energy infrastructure. This news led to selling pressure in wheat futures, with December SRW falling 3 1/4 cents to $7.22 and hitting a three-week low.

Meanwhile, the cattle market saw impressive gains, with October live cattle rising by $2.575 to $222.25 and hitting a four-week high. November feeder cattle also rose by $4.60 to $332.775, nearing its daily high.