Soyabeans rise

Reuters

Singapore

U.S. soybean futures rose for a second session on Monday as strong demand from top importer China and concerns over crop damage in Argentina buoyed the market.

Wheat gained more ground although the rise was capped by prospects of higher production of the hard red winter wheat crop in the United States.

The Chicago Board Of Trade most-active soybean contract rose 0.4 percent to $10.38-1/2 a bushel by 0228 GMT, having firmed 2.2 percent on Friday.

Wheat gained 0.3 percent to $4.65-1/4 a bushel and corn added 0.5 percent to $3.79-1/4 a bushel.

Soybeans are drawing support on expectations of strong demand for U.S. supplies on the back of crop damage in Argentina following unseasonal rains at harvest time.

China´s soybean imports climbed 33 percent in April from a year ago, setting a monthly record amid strong demand for soymeal and soyoil.