US soyabean futures rose on Thursday on short covering due to dry weather in key crop areas of South America that could crimp production and boost demand for supplies from the United States. A weakening dollar helped wheat futures rise, but gains were capped by a lack of bullish fundamental news. Corn eased on mild liquidation of long positions.
Worries about the South American soyabean crop dominated market talk. Brazil and Argentina are the world's second and third largest producers after the United States. At 11:10 am CST (1710 GMT), Chicago Board of Trade January soyabean futures were up 7-3/4 cents at $11.07-3/4 a bushel. CBOT March corn fell 1 cent to $5.79-3/4 a bushel. CBOT March soft red winter wheat was up 2-1/4 cents at $5.83 a bushel.
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