Corn, soy futures up on flurry of export sales

CHICAGO: Chicago corn and soybean futures rose on Monday as low prices spurred a flurry of international demand for US grains and soy, analysts said.

The demand is a welcome respite for domestic grain sellers, who have struggled with merchandising a massive US crop with hefty global supplies at sluggish prices and freight transportation woes on the nation’s interior rivers.

Wheat futures also rose on spillover support from corn futures, lingering concerns over drought in key wheat-growing areas and Russian export restrictions.

Chicago Board of Trade soybeans were last up 9 cents at $9.79 a bushel and corn rose 5 cents to $4.10 a bushel as of 1610 GMT.