SINGAPORE- Chicago soybean futures rose on Thursday, rebounding from a more than two-week low hit in the previous session, although gains were checked by forecasts of rains in dry areas of top producer Brazil.
Wheat ticked lower after rallying in the last session, while corn prices were little changed.
“Rains have eased some concerns for soybeans and corn crops in Brazil and more are forecast,” said one Singapore-based trader. “For wheat, there is good demand at current prices and farmers are happy sellers at these levels.”
Prices of key varieties of Australian wheat being offered in Asia were largely unchanged even though the country lifted its production estimate with strong demand underpinning the market.