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SINGAPORE- Chicago wheat futures rose for a second consecutive session on Monday to their highest in three weeks, as robust world demand and tightening supplies underpinned the market.
Soybeans rose for the first time in three sessions, while corn edged higher.
“Continued dry weather in Hard Red Winter wheat regions of the US is helping the mood,” said Tobin Gorey, director of agricultural strategy at Commonwealth Bank of Australia. “As are the high level of fertilizer prices.”
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The most-active wheat contract on the Chicago Board Of Trade (CBOT) gained 0.7 percent at $7.61 a bushel, near the session high of $7.62-1/4 a bushel, the highest since Oct 4.
Wheat closed up 2 percent on Friday.
