Monday, 10 September 2012 17:30
AMSTERDAM/SINGAPORE: Chicago Board of Trade wheat, corn and soy futures edged up on Monday on supply concerns as the market waited for the US government supply-demand report on Wednesday which could provide an insight into whether the price rally to record highs this summer will continue.
Wheat rose for a third straight session on expectations Russia, the world's fourth largest exporter, would soon announce export curbs and as adverse weather hit crops in Australia, the No. 2 supplier.
"I think people are generally waiting on the sidelines for the (USDA) report on Wednesday," said Erin FitzPatrick, Rabobank analyst.
"We do expect to see production downgrades, for the Black Sea region and for Australia."
Chicago Board of Trade new-crop November soy was up 0.2 percent to $17.39-3/4 a bushel by 1026 GMT, while December wheat added 0.75 percent to $9.11-1/2 a bushel. December corn gave up 0.69 percent to $8.05 a bushel.
In Europe, benchmark November ...