Wheat gains

SINGAPORE: Chicago wheat futures edged up on Thursday after deep losses the session before, when the market hit contract lows amid ample global supply.

Corn inched higher after dropping to its lowest since late June on Wednesday on forecasts of rains boosting crop prospects across the U.S. Midwest. Soybean prices rose for a second day. The Chicago Board of Trade wheat gained 0.5 percent to $4.21-1/2 a bushel by 0341 GMT after dropping 2.4 percent in the last session to a contract low at $4.17 a bushel.

Corn added 0.2 percent to $3.67-1/4 a bushel while soybeans gained 0.5 percent to $9.30-1/4 a bushel. Wheat prices are struggling in the face of record supplies from the Black Sea region and other key producing countries. —Reuters