Soybean declines

SINGAPORE: Chicago soybeans slid for a third session on Monday, with forecasts of dry weather in Argentina´s flooded crop areas easing concerns over yield losses.

Corn was trading near Friday´s six-month high on strong demand, while wheat edged up as short-covering by investors underpinned prices. The Chicago Board of Trade most-active soybean contract had declined 0.5 percent to $10.62-1/4 a bushel by 0317 GMT.

Corn dipped 0.07 percent to $3.69-1/2 a bushel, having gained 1 percent in the previous session when prices hit their strongest since July at 3.70 a bushel. Wheat added 0.1 percent to $4.28-3/4 a bushel.

"Investors have begun to book profits as weather worries recede somewhat," said Tobin Gorey, director of agricultural strategy at Commonwealth Bank of Australia. "Argentina is expected to experience hot and dry conditions this week. That pattern should allow for flooded regions to dry down more quickly. " The Rosario grains exchange on Thursday cut its forecast for the 2016-17 Argentine soybean crop to 52.9 million tonnes from 54.4 million tonnes previously due to bad weather.