Soybeans and corn edged lower as weather forecasts pointing to heavier rain next week in central Brazil easing concerns about persisting dryness in crop belts.
Prices for the top exporter's 5% broken parboiled variety rose to $378-$383 per tonne, their highest since the week of Sept. 24, from $375-$381 last week.
The Chinese ministry kept all other forecasts unchanged from last month but slightly raised its forecast for 2020/21 sugar imports by 400,000 tonnes to 3.9 million tonnes.
On the daily chart, the contract may fall towards 3,274 ringgit, as it failed to break a resistance at 3,411 ringgit, the 50% projection level of a presumed wave C from 2,691 ringgit.
The country's wheat output came to 134.25 million tonnes, marginally up from 133.59 million tonnes last year, while rice production rose 1.1% to 211.86 million tonnes.
The corn was purchased in a single consignment, all at an estimated premium of 196.39 U.S. cents a bushel over the Chicago May 2021 corn contract, they said.
The corn was purchased in a single consignment, all at an estimated premium of 196.39 US cents a bushel over the Chicago May 2021 corn contract, they said.
NOFI sought yellow corn equivalent to US number 3 grade or better in one consignment of between 45,000 to 69,000 tonnes with the seller free to decide the volume to be offered inside this range.
The corn can be sourced from optional origins and was purchased at an estimated $239.90 a tonne c&f plus a $1.25 a tonne surcharge for additional port unloading.
The corn was bought in three consignments for 2021 arrival, with all prices having an additional $1.25 a tonne surcharge for port unloading, they said.