SINGAPORE- Chicago corn futures gained on Thursday, with prices underpinned by concerns over yield losses amid forecasts of hot and dry weather in the US Midwest.
Wheat rose for the first time in four sessions, although gains were limited as the market awaited potential resumption in Black Sea shipments from war-torn Ukraine.
The most-active corn contract on the Chicago Board of Trade (CBOT) was up 1.3 percent at $6.02-3/4 a bushel, while soybeans rose 0.9 percent to $13.61-1/2 a bushel.
Wheat added 1.9 percent to $8.26-1/2 a bushel.
The corn market is being supported by concerns over hot and dry weather as the US crop nears its crucial pollination phase of development.
The wheat market is monitoring negotiations on resuming exports from war-torn Ukraine.
Russia, Ukraine, Turkey and the United Nations are due to sign a deal next week aimed at starting Ukraine’s Black Sea grain exports, but U.N. chief Antonio Guterres warned there was still “a long way to go” before there would be peace talks to end the war. — Reuters
