SINGAPORE- Chicago soybean futures kicked off March on a bullish note, climbing 0.9 percent on Monday as delays in exports from Brazil boosted expectations of higher demand for US supplies.
Corn and wheat futures rose after two sessions of declines.
“There have been reports over the weekend that there is too much rain in Brazil and dryness in Argentina,” a Singapore-based trader said. “Soybean shipments are likely to face further delays.”
The most-active soybean contract on the Chicago Board Of Trade (CBOT) added 0.9 percent to $14.17-1/4 a bushel.
Corn gained 0.6 percent to $5.50-3/4 a bushel and wheat Wv1 was up 0.5 percent at $6.63-1/2 a bushel.