Wheat declines

Reuters

Singapore

Chicago wheat futures slid for a fourth consecutive session on Monday as the market was weighed down by ample global supplies and a strong dollar.

Soymeal, which climbed to an 18-month high on Friday after a four-session rally, edged lower while soybeans fell around half a percent.

The dollar got off to a steady start against a basket of major currencies on Monday, remaining within striking distance of a two-month peak after markets last week moved to price in a greater chance of an imminent hike in U.S. interest rates.

"Currencies are certainly impacting commodities," said Phin Ziebell, agribusiness economist at National Australia Bank.

"Beans have some fundamental strength because of concerns over the crop in South American but there is lot of wheat in the world.