Frank Rijkers

Corn is seeing support from expectations U.S. farmers could plant less corn than forecast, turning instead to soybeans because of rainy weather during the U.S. sowing period, there is also support coming from belief that Brazil's corn exports will slow down and the country could even import corn after the surge in Brazil's corn exports at the start of this season.

Wheat, corn and soybeans are still burdened by the forecasts of large global supplies made by the USDA monthly report on Tuesday, but markets have been moving in and out of positive territory today because of the impact of re-positioning after the USDA report and bargain-hunting following yesterday's price falls.