SINGAPORE, Oct 5 (Reuters) - Chicago corn lost more ground on Thursday, while soybeans eased as both prices of both crops came under pressure from advancing U.S. harvest and ample global supplies.
Wheat futures edged higher, recouping last session's losses.
FUNDAMENTALS
* The most-active corn contract on the Chicago Board of Trade (CBOT) gave up 0.2% to $4.85 a bushel, as of 0010 GMT and soybeans gave up 0.2% to $12.70 a bushel.
* Wheat climbed 0.1% to $5.60-1/2 a bushel.
* Freshly harvested U.S. corn and soybeans supplies are entering the market and weighing on prices.
* The U.S. Department of Agriculture said U.S. harvests of corn and soybeans were both 23% complete, slightly ahead of their respective five-year averages.
* Commodity brokerage StoneX on Monday raised its estimate of U.S. 2023 corn production to 15.202 billion bushels from 15.102 billion in its previous monthly report released on Sept. 6.
* The firm forecast U.S. soybean production at 4.175 billion bushels, up from 4.144 billion previously.
* Argentina's agricultural heartland needs more rain soon to avoid wheat productivity losses and finish planting early season corn, after showers last week failed to quench parched farmlands, the Rosario grains exchange said on Wednesday.
* Commodity funds were net sellers of CBOT soyoil, wheat, and corn futures on Wednesday, traders said. The funds were even in soybean and soymeal futures.
MARKET NEWS
* A rout in government bond markets deepened early on Wednesday with benchmark U.S. yields hitting fresh 16-year highs as investors bet that persistently high interest rates will slow world growth and dampen the appetite for riskier assets.
DATA/EVENTS (GMT) 0830 UK All-Sector PMI Sept 1230 US International Trade Aug 1230 US Initial Jobless Clm Weekly (Reporting by Naveen Thukral; Editing by Rashmi Aich)
