SYDNEY: U.S. wheat rose 1 percent on Thursday to rebound from a near one-month low touched in the previous session, with a widely watched crop tour showing extensive damage to yields from recent hot, dry weather.
Corn prices edged higher, extending gains into a second session, while soybeans were little changed. The most active wheat futures on the Chicago Board of Trade had climbed 1.2 percent to $4.83-1/2 a bushel by 0248 GMT.
They closed up 0.8 percent on Wednesday after touching a near one-month low of $4.73 a bushel. "The premium due to the threat to spring wheat had come off a little in the last few weeks as people realised major downgrades would alter the supply and demand fundamentals, though the crop tour has propelled the issue back into focus," said Phin Ziebell, agribusiness economist, National Australia Bank.