The CBOT resumed its downward trend on Wednesday with corn and soybeans abandoning any of the prior day’s strength while wheat futures wobbled but remained near Tuesday’s highs. Corn futures scored new contract lows with little fresh news available to offer support and favorable weather outlooks for South America provided reassurance of ample global supplies. Soybeans pushed lower as well amid the growing competitiveness of Brazil as its harvest ramps up and as China booked as many as 12 cargoes earlier this week. Wheat futures largely clung to yesterday’s gains but made limited upside progress amid the weakness in corn and soybeans. The overall backdrop for U.S. grain and oilseed markets is bearish and, knowing this, fund...