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SINGAPORE- Chicago corn futures rose on Tuesday, recouping some of the losses suffered in the previous two sessions, with strong demand from China underpinning prices.
Soybeans rose for the first time in six sessions while wheat recovered from a one-month low touched on Monday.
“There is strong demand led by China that is likely to support prices,” said Ole Houe, director of advisory services at brokerage IKON Commodities in Sydney.
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“We have still not dealt with the South American crop issues. We think the underlying supply-and-demand fundamentals are still tightening. We are more likely to see strong rallies over the next few months, rather than large drop in prices.”
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