Wheat gains

SYDNEY: U.S. wheat rose for a second session on Monday as unfavourable weather threatens U.S. winter production.

The most active wheat futures on the Chicago Board Of Trade rose 0.7 percent to $4.07-1/4 a bushel after closing up 2.2 percent in the previous session. The most active soybean futures rose 0.6 percent to $10.33-3/4 a bushel, having closed down 0.2 percent on Friday.

The most active corn futures rose 0.4 percent to $3.48-3/4 a bushel, having gained 1.4 percent in the previous session. Wheat supported as cold weather threatens production of the U.S. winter crop, exposed because of little snow cover - analysts said.

Wheat gains checked amid expectations of record wheat production in Australia, the world´s fourth-largest exporter. Expectations of a large Canadian harvest, despite weather-disrupted field work, also reinforced the prospect of hefty global inventories.

The euro tumbled in early Asian trade on Monday after Italian Prime Minister Matteo Renzi said he would resign after conceding defeat in a referendum over his plan to reform the constitution.