SINGAPORE- Chicago soybean futures rose for a second session on Wednesday, with prices underpinned by robust demand for the oilseed from Brazil to China and lower-thanexpected US harvest progress.
Corn and wheat lost ground in Asian trade.
“All eyes are on US elections but for agriculture markets fundamentals of supply-demand are key movers,” said Phin Ziebell, agribusiness economist at National Australia Bank.
The most-active soybean contract on the Chicago Board of Trade rose 0.1 percent to $10.65-3/4 a bushel, after gaining 1.1 percent in the last session.
Corn fell 0.5 percent to $3.98 a bushel and wheat Wv1 was down 0.7 percent at $6.03-1/2 a bushel.
On Tuesday, soybeans rallied on news that Brazil, the world’s biggest soy exporter, is buying US supplies as the country grapples with rising prices of domestic food staples.