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.
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