SYDNEY: U.S. wheat rose nearly 1 percent on Monday as forecasts for heavy rains across a key U.S. growing region pushed the grain to a two-week high.
The most active wheat futures on the Chicago Board Of Trade rose 0.9 percent to $4.39 a bushel by 0105 GM, near the session high of $4.39-1/4 a bushel - the highest since May 8. Wheat closed up 2.2 percent on Friday.
The most active soybean futures rose 0.4 percent to $9.57 a bushel, having firmed 0.9 percent on Friday.
The most active corn futures rose 0.3 percent to $3.73-1/2 a bushel, having gained 1.8 percent in the previous session.
Wheat draws support as forecasts for rains across the United States stoke fears of production losses.
Heavy rains also support corn, which has edged higher amid fears of further planting delays. Soybeans and corn were under pressure last week amid a slump in the Brazilian real, which saw farmers rush to sell their record supplies.
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