SINGAPORE: Chicago soybean and corn futures rose for a second session on Thursday as investors covered short positions and rains delayed fieldwork in parts of the U.S. grain belt.
Wheat edged higher although abundant global supplies kept a lid on the market. The Chicago Board of Trade most-active soybean contract gained 0.5 percent to $9.52 a bushel by 0240 GMT. The market hit a one-year low at $9.29-3/4 bushel on Tuesday.
Corn rose 0.3 percent to $3.70 a bushel and wheat added 0.2 percent to $4.34 a bushel. "The market is, perhaps a little prematurely, starting to worry about rainy conditions in the U.S. Midwest over the next fortnight or so," said Tobin Gorey, director of agricultural strategy at Commonwealth Bank of Australia.