In the commodities markets Wednesday, wheat and corn futures settled lower while soybeans finished higher on the Chicago Board of Trade.
The losses were mostly due to profit taking and liquidation before the release of the Agriculture Department's quarterly report on U.S. grain stocks, said Joel Karlin, an analyst with Research Department Inc.
The report, issued after the close, showed corn stocks at 4.882 billion bushels, soybean stocks at 436 million bushels and wheat stocks at 2.958 billion bushels.
The numbers indicated a decline since last year in stockpiles of all three grains. The soybean and wheat totals fell below the range of most analysts' estimates.