SYDNEY: US soybean futures rose more than 0.5 percent on Monday, rebounding from an eight-day low touched in the previous session, as signs of easing trade tensions between Washington and Beijing supported gains.
Corn was unchanged, while wheat rose 0.5 percent as prices rebounded from losses of more than 1 percent in the previous session.
The most active soybean futures on the Chicago Board Of Trade were up 0.7 percent at $9.06-3/4 a bushel by 0323 GMT, having closed down 0.7 percent on Friday when prices hit a low of $9.00 a bushel - the lowest since Dec 6.
Analysts said the market was buoyed by expectations that China will buy large amounts of US exports as part of a temporary truce in the trade war between the two.
"US soybean exports are likely to benefit from easing US-China trade tensions," said Tobin Gorey, director of agricultural strategy, Commonwealth Bank of Australia.
The US Department of Agriculture (USDA) on Thursday confirmed 1.13 million tonnes of US soybeans sold to China, and on Friday confirmed another 300,000 tonnes sold to China plus 130,000 tonnes sold to unknown destinations.
The most active corn futures were little changed at $3.85 a bushel, having gained 0.1 percent in the previous session.
The most active wheat futures were up 0.4 percent at$5.32-3/4 a bushel, having closed down 1.1 percent on Friday.
Russia's 2018 wheat harvest totalled 70 million tonnes, the Interfax news agency cited the agriculture ministry's first deputy head as saying.
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