On the Chicago Mercantile Exchange, soybeans futures for September delivery traded at USD12.8088 a bushel, up 0.9%. September futures rose to a session high of USD12.8263 a bushel earlier in the day, the strongest level since July 26.
The September contract settled up 0.9% at USD12.6940 a bushel on Wednesday.
The more active November contract was up 1.1% at USD12.5240 a bushel, after gaining 0.9% on Wednesday.
Weather forecasting models pointed to hot and dry weather conditions across most parts of the U.S. Midwest during the next few days, fuelling concerns over potential U.S. crop damage.
The U.S. Department of Agriculture lowered its forecast for the U.S. soybean crop to 3.255 billion bushels, down 5% from its estimate in July.
The agency also cut its soybean yield-per-acre forecast to 42.6 bushels, down from a prior reading of 44.5 bushels. Analysts expected the USDA to cut its soybean yield forecast to 43.6 bushels.
Elsewhere on the CBOT, corn futures for September delivery traded at USD4.6975 a bushel, up 1.1%. The September corn contract settled up 2.1% at USD4.6460 a bushel on Wednesday.
The more actively-traded December contract was up 0.8% at USD4.5900 a bushel, after climbing 1.8% on Wednesday.
The USDA said on Monday that the U.S. corn crop will total 13.8 billion bushels, down 1.3% from its July forecast.
The report also showed that corn stockpiles prior to next year's harvest will total 1.837 billion bushels, below expectations and down 6% from its forecast last month.
Meanwhile, wheat for September delivery traded at USD6.3188 a bushel, up 0.1%. The September contract settled up 0.35% at USD6.3040 a bushel on Wednesday.
The more active December contract was up 0.2% at USD6.4400 a bushel, after rising 0.2% on Wednesday.
The USDA kept its estimate for wheat production for the 2013-14 marketing year unchanged at 2.114 billion bushels. Analysts expected a forecast of 2.106 billion bushels.
The agency expects world wheat production to total 705.4 million tonnes, an all-time high.
Corn is the biggest U.S. crop, followed by soybeans, government figures show. Wheat was fourth, behind hay.
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