SYDNEY- US wheat futures edged higher on Tuesday, rebounding from sharp losses in the previous session, though gains were checked amid expectations that Russia could accelerate exports before a tax is introduced to curb sales.
Corn edged lower, while soybeans also fell after rallying nearly 1 percent in the previous session.
The most active wheat futures on the Chicago Board Of Trade were up 0.5 percent at $5.99-1/2 a bushel, after closing 3 percent lower on Monday after prices earlier hit a Nov. 25 high of $6.22 a bushel.
While wheat had soared in recent days on expectations for higher US exports after Reuters reported Russia would move to limit exports, analysts said confirmation of a tax stoked expectations that the major grain exporter would accelerate sales in the meantime.
