Soybeans near 2018 high; corn up

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    SINGAPORE- Chicago soybean futures edged higher on Monday, trading near a more than two-year peak hit in the previous session as the US government’s estimate for lower supplies supported prices.

    Corn rose for a second session while wheat gained ground.

    “Soybean prices were lifted by a friendly new estimate from the USDA and continued worries about dry conditions in South America,” said Tobin Gorey, director of agricultural strategy, Commonwealth Bank of Australia.

    The most-active soybean contract on the Chicago Board of Trade rose 0.2 percent to $10.67-1/2 a bushel, having risen to a 2018 high of $10.79-3/4 a bushel on Friday.