Soybeans, corn ease as crop supply weighs

PARIS/CANBERRA, Aug 20 (Reuters): Chicago soybean and corn futures edged lower on Tuesday, hovering near four-year lows as latest crop data underscored the prospect of large US harvests this year.
Wheat also ticked down as a favourable US production outlook coincided with stiff export competition from the Black Sea region.
Losses were limited, however, as traders waited for further findings from the Pro Farmer field tour in the US Midwest that kicked off on Monday.
The most-active soybean contract on the Chicago Board of Trade (CBOT) was down 0.4 per cent at $9.71-3/4 a bushel by 1133 GMT, while CBOT corn fell 0.3 per cent to $3.99-1/4 a bushel.
Corn and soybeans both hit their lowest in almost four years on Friday before steadying on Monday.
Weakness in the dollar, a dry spell forecast for the coming week in the central United States and news that exporters sold 332,000 metric tons of US soybeans to China helped underpin prices in the previous session. But overnight crop news highlighted strong supply prospects.
Scouts on the Pro Farmer tour estimated corn yield prospects in both Ohio and South Dakota were below last year's findings but higher than the three-year average.
The US Department of Agriculture (USDA), in a weekly report, rated 67 per cent of US corn and 68 per cent of the soybean crop as being in good-to-excellent condition, matching analyst expectations and the highest for the time of year for both crops since 2020.