Soybeans and Wheat Rise Amid Strong Demand and Black Sea Tensions

U.S. soybean, wheat, and corn futures rebounded on Wednesday from earlier losses caused by lower crude oil prices. The most active soybean contract on the Chicago Board of Trade (CBOT) rose by 0.28% to $13.22-1/2 per bushel, marking a third consecutive session of gains.

The wheat price also increased, rising by 0.62% to $7.33 per bushel, while corn prices jumped 0.28% to $5.37-1/4 per bushel.

The soybean market was supported by a monthly industry report showing lower-than-expected August soybean crushing and strong Chinese demand for U.S. supply ahead of President Xi Jinping's visit to Washington later this month.