HAMBURG: Chicago soyabeans and corn rose on Monday as dealers assessed forecasts of rain for parched Brazilian crops, while a weaker dollar boosted export prospects by making US supplies cheaper in international markets.
Chicago Board of Trade most-active soyabeans rose 0.3% to $13.44-3/4 a bushel at 1209 GMT, after dropping to its lowest since Nov. 3 earlier on Monday.
Corn rose 0.1% to $4.67-3/4 a bushe and wheat fell 0.2% to $5.74 a bushel. Showers this week will briefly ease heat and dryness stress in north Brazil’s soyabean area, Commodity Weather Group said. Northern Brazil is then expected to dry out again. Dryness is forcing some Brazilian farmers to give up on soyabeans to plant cotton or another crop.
“The weaker dollar, positive for US export prospects, is supporting grains and soyabeans today along with concerns about weather in Brazil,” said Matt Ammermann, StoneX commodity risk manager.
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