SINGAPORE- Chicago corn rose for a third consecutive session on Tuesday, hitting its highest level in more than a week, while soybeans gained ground as a slower-than-expected pace of US harvest supported prices.
Wheat rose to its highest level in almost one week.
“There is support for corn and soybean prices because of some issues with the US harvest,” said one Singapore-based trader. “But it is still early to be too much worried about the harvest. There is no immediate concern over grain supplies.”
The most-active corn contract on the Chicago Board of Trade (CBOT) added 0.2 percent to $4.82-1/4 a bushel, after hitting its highest level since Sept. 15 at $4.83-1/2 earlier in the session.
Soybeans gained 0.7 percent at $13.06-1/4 a bushel and wheat rose 0.7 percent to $5.93 a bushel.
The US Department of Agriculture (USDA) reported that soybean and corn harvests advanced more slowly last week than analysts had expected.
The soybean crop was 12 percent harvested, compared to estimates for 14 percent , and the corn harvest was 15 percent complete, compared to estimates for 17 percent.
