CHICAGO, May 29 (Xinhua) -- Chicago Board of Trade (CBOT) soybean futures settled higher Wednesday for three straight sessions, as traders worried about planting delays in the United States and forecasts for more rain this week.
The most active soybean contract for July delivery added 16 cents, or 1.87 percent to close at 8.72 dollars per bushel. July corn delivery was down 1.5 cents, or 0.36 percent to close at 4.1875 dollars per bushel. July wheat delivery dropped 14.25 cent, or 2.82 percent to close at 4.905 dollars per bushel.
CBOT soybeans rallied as a government report released on Tuesday showed wet weather kept farmers out of fields last week, while corn and wheat futures retreated after big gains in the previous session.
About 58 percent of the U.S. corn crop was planted as of Sunday, down from the prior five-year average of 90 percent, according to the U.S. Department of Agriculture (USDA).
In the state of Iowa, 76 percent of the crop was in the ground, down from the average of 96 percent for this time of year, the USDA said in a report. Illinois growers were only 35 percent finished with seeding compared with the normal 95 percent for the week.
Soybean planting was 29 percent finished as of Sunday, far behind the average pace of 66 percent. Iowa growers were 32 percent finished vs. the normal 77 percent, while Illinois planting was 14 percent done compared with the average of 70 percent, the government said. Enditem