SYDNEY: US wheat rose on Monday to hit a 11-day high as expectations for reduced plantings and fears of continued dry weather pushed the grain to its longest unbroken rally in three weeks.
Corn rose, drawing support from stronger oil prices to hit a 12-day high, while soybeans gained more than 0.5 percent.
The most active wheat futures on the Chicago Board Of Trade rose 0.55 percent to $4.10-1/4 a bushel by 0253 GMT, near the session high of $4.12 a bushel - the highest since Nov. 10. Wheat closed up 1.2 percent on Friday.
"There are a few factors supporting prices. There is the expectation that US farmers will plant less wheat, while there is continued dry weather in some parts of southern Plains (states)," said Phin Ziebell, agribusiness economist at National Australia Bank.
Widely watched private analytics firm Informa Economics last week lowered its estimate of US winter wheat plantings for harvest in 2017 to 33.761 million acres from 35.421 million.
Weather concerns also supported prices.
Drought expanded last week in much of the US Southeast and Plains states including Oklahoma, Kansas and Colorado, according to the latest weekly US Drought Monitor report. The US Climate Prediction Center forecast drought persisting in those regions through February.
The most active corn futures rose 0.36 percent to $3.46-3/4 a bushel, near the session high of $3.47-1/2 a bushel - the highest since Nov. 9. Corn firmed 1 percent in the previous session.
The most active soybean futures advanced 0.86 percent to $10.02-1/2 a bushel, near the session high of $10.02-1/2 a bushel - the highest since Nov. 11. Soybeans firmed 0.43 percent on Friday.
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