CANBERRA – US soybean futures edged higher on Thursday, as adverse weather across South America ignited concerns about a short-term supply crunch of the oilseed.
Corn firmed, rebounding from losses of nearly 2 percent in the previous session, while wheat also edged higher.
The most active soybean futures on the Chicago Board Of Trade were up 0.3 percent to $14.11-1/2 a bushel by 0348 GMT, having closed down 0.4 percent on Wednesday.
Analysts said wet weather across Brazil will further impede harvesting, while dry weather in Argentina threatens to stunt crop development. – Reuters