Corn rebounds from 5-week low

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    SINGAPORE- Chicago corn futures rose on Monday as the market recovered from its lowest in five weeks on bargain buying and higher oil prices, although gains were curbed by expectations of a record US crop.

    Wheat slid for a third consecutive session as abundant world supplies weighed on the market.

    A big prospective US (corn) crop looks more and more likely to be realized while demand is shaky, said Tobin Gorey, director of agricultural strategy at Commonwealth Bank of Australia.

    The most-active corn contract the Chicago Board Of Trade rose 0.2 percent to $3.21-1/2 a bushel after ending down 0.9 percent in the previous session.

    Wheat fell 0.1 percent to $4.95 a bushel, while soybeans gained 0.1 percent at $8.68 a bushel.