Chicago soyabean futures rose to their highest level in more than three months early on Monday with demand for US soya buoyed by concerns over supplies from drought-hit South America. Wheat prices edged higher but corn slipped, with the market's focus this week on a key crop report to be issued by the US Department of Agriculture on Thursday.
Chicago Board of Trade March soya rose 0.5 percent or 6 cents to $12.38-1/2 a bushel by 9:50 am CST (1550 GMT) after peaking in European trading at $12.42, the highest level for the front month since late October 2011 . Soyabeans have settled higher four straight sessions. March CBOT wheat edged up 0.3 percent or 1-3/4 cents at $6.62-1/2 a bushel, underpinned by cold-weather damage to some European winter wheat crops. CBOT March corn shed 0.5 percent or 3-1/2 cents at $6.41 a bushel.
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