Wheat gains

SINGAPORE: Chicago wheat futures were on track on Friday to end the week with the biggest gain since early February, with prices underpinned by concerns over freezing temperatures threatening the U.S. winter crop.

Corn is set for a weekly gain, recouping last week´s decline, although the outlook for a boost to U.S. planting from dry weather kept a lid on the market.

The Chicago Board Of Trade´s most-active wheat contract is up 2.7 percent this week, the biggest gain in 11 weeks.

Corn is up 1.4 percent, recouping much of last week´s losses and soybeans are down 0.4 percent, the first weekly decline in three weeks.

"There is adverse cold weather for the U.S. winter wheat crop which is reflected in the price action today," said Kaname Gokon from brokerage Okato Shoji in Tokyo.

"For corn we are expecting planting activity to accelerate in the U.S. as it gets dry."

Wheat prices climbed on worries that frigid temperatures in the central and southern Plains could damage the developing crop hard red winter wheat (HRW) crop.

Low temperatures in north-central Kansas, the top HRW state, are expected to be in the mid- to upper-20s (Fahrenheit), according to the Commodity Weather Group.

Corn is under pressure on forecasts that removed some of the rain expected in early May, easing fears of planting delays.

The U.S. Department of Agriculture on Thursday reported net corn export sales hit a three-week high last week and soybean sales hit a one-month peak, with old-crop deals for both crops topping trade expectations.