By Francesca Fontana 
 

Grain prices made modest moves Wednesday as traders digested harvest and planting progress as well as developments in export inspections.

Soybean contracts for January delivery rose 0.6% to $8.83 1/2 a bushel at the Chicago Board of Trade. December corn contracts rose 0.1%, while December wheat contracts fell 0.9%.

The U.S. Department of Agriculture reported export inspections for corn at 44.7 million bushels and soybeans at 47.8 million bushels, analysts said. While corn's total to date is almost double what it was last year, soybeans are still well below last year's figures, said Kristi Guse of MaxYield Cooperative.

Soybean exports have suffered as the trade dispute between the U.S. and China, once its largest soybean buyer, continues. President Trump has signaled progress in trade talks with China recently, and the countries' two presidents are slated to meet during the G-20 summit. Traders are watching for any additional developments on negotiations before the meeting at the end of the month, analysts said.

Meanwhile, corn and soybean harvest advances relieve some pressure on prices, though soybean progress still lags the 5-year average, analysts said.

Write to Francesca Fontana at francesca.fontana@wsj.com

(END) Dow Jones Newswires

November 14, 2018 15:43 ET (20:43 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.