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SINGAPORE- Chicago corn futures bounced back on Tuesday, climbing 1.5 percent, while wheat rose more than 2 percent as concerns over North American weather and strong Chinese demand underpinned prices.
Soybeans gained more than 1 percent, rising for two out of the last three sessions.
“There is dry weather in the United States and Canada,” said Ole Houe, director of advisory services at brokerage IKON Commodities in Sydney. “There are doubts around wheat crop in Canada and US corn yields.”
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The most-active corn contract on the Chicago Board Of Trade (CBOT) added 1.5 percent to $6.66-1/4 a bushel. Wheat rose 2.3 percent to $6.78-1/2 a bushel and soybeans advanced 1.1 percent at $15.46-1/2 a bushel.
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