US corn, soyabean and wheat futures fell on Wednesday on a round of technical selling after posting sharp gains earlier this week, traders said. Wheat fell most, with the benchmark Chicago Board of Trade December soft red winter wheat contract sinking 2.5%. Wheat, which faced some fundamental pressure from fresh signs of weak export demand for US supplies, had risen for four sessions in a row.

The losses in corn and soyabeans were limited by the US Agriculture Department's quarterly stocks report on Monday that showed domestic supplies were tighter than expected. At 11:33 am CDT (1633 GMT), CBOT December soft red winter wheat was down 12-1/2 cents at $4.86-1/4 a bushel. Egypt's state grains buyer, the General Authority for Supply Commodities, said on Wednesday it bought 60,000 tonnes of French wheat in a tender for shipment Nov. 5-15.

CBOT December corn futures were off 6-1/4 cents at $3.86-1/4 a bushel. INTL FCStone's forecast for this year's US corn harvest added to the bearish tone. The firm on Tuesday raised its estimate of the average US 2019 corn yield to 169.3 bushels per acre, from 168.4 in its previous monthly report released on September 4.

CBOT November soyabean futures were down 6-1/2 cents at $9.13 a bushel. Private exporters sold 464,000 tonnes of US soyabeans to China for shipment in the 2019/20 marketing year that began September 1, the USDA said on Wednesday, the latest in a flurry of purchases by the world's top soya importer.

Copyright Reuters, 2019