SINGAPORE- Chicago wheat futures lost more ground on Tuesday after a weekly US government report showed improvement in the condition of winter crop which had been hit by dry weather.
Corn and soybeans were largely unchanged.
The most-active wheat contract on the Chicago Board of Trade (CBOT) fell 0.9 percent to $6.94-1/2 a bushel. Corn lost 0.3 percent to $6.31-1/4 a bushel and soybeans Sv1 gave up 0.3 percent to $14.81 a bushel.
The US Department of Agriculture’s (USDA) National Agricultural Statistics Service in a weekly crop report on Monday rated 19 percent of the winter wheat in top producer Kansas in good to excellent condition, up from 17 percent the previous week.
Approximately 53 percent of US winter wheat is produced in an area currently experiencing drought, the USDA said last week, a reduction from 55 percent a week earlier and down from 69 percent as the year began. – Reuters
