Futures for corn and soybeans in Chicago stabilized after falling

Corn and soybean futures in Chicago traded almost unchanged on Tuesday. According to Reuters, estimates of the impact of weather conditions on crops, as well as weak export prospects, contributed to lower prices the day before.

Wheat prices have fallen for the fifth consecutive session in competition with Russian grain in the export market.

A USDA report released after Monday's face-to-face session on the CBOT showed that the percentage of corn and soybean plantings in "good" or "excellent" condition dropped significantly this week as temperatures reached record highs in the US Midwest. values for the summer period.

These data somewhat leveled the negative pressure on the quotes from weather forecasts, suggesting the normalization of air temperatures in August.

"Weather conditions are expected to improve in the US Midwest, but crops may still suffer losses given that crops have already been hit by heat waves over the past few weeks," said one trader in Singapore.

The focus of the market is also on the export sales of grains and soybeans. Weekly export inspections rose, with China purchasing 132,000 tons of soybeans in the previous week.

However, the strength of the US dollar dampened export optimism.

The most actively traded corn futures on the CBOT fell 0.24% to $5.11 3/4 a bushel around 1130 GMT. Soybeans rose 0.04% to $13.32 1/4 a bushel.

Wheat traded down 1.31% on the CBOT at $6.57.

The weekly assessment of the state of spring wheat crops fell more significantly than expected, but rains and a cold snap expected in early August eased the fears of market participants.

On Monday, Algeria held a tender for the purchase of wheat, as a result of which the importer purchased 700,000-800,000 tons of this crop. According to the tender, grain from the Black Sea region, including Russia, was offered at a lower price.