WHEAT - Up 3 to 5 cents per bushel
Higher on expectations that Minneapolis Grain Exchange (MGEX) spring wheat futures will continue to climb after Monday's surge to three-year highs above $8 a bushel, fueled by forecasts for continued hot and dry weather in the northern US Plains spring wheat belt.
CBOT soft red winter wheat and K.C. hard red winter wheat futures will trade Wednesday with expanded daily limits of 45 cents per bushel, following Monday's limit-up close in K.C. wheat.
Trade awaits results of an international wheat purchase tender announced on Tuesday by Egypt's GASC. The lowest offer was $197.97 per tonne free-on-board for 55,000 tonnes of Russian wheat.
The CBOT reported 217 July wheat deliveries and 455 deliveries of K.C. hard red winter wheat. The MGEX reported 67 July spring wheat deliveries.
CBOT September soft red winter wheat settled Monday at $5.55 per bushel; K.C. September hard red winter wheat ended at $5.59-1/2; MGEX September spring wheat settled at $8.16.
CORN - Up 3 to 5 cents per bushel
Higher on forecasts for warmer and drier weather this week in the US Midwest as the corn crop nears its key pollination phase. Additional support from strength in wheat.
The CBOT reported 1,302 deliveries against CBOT July corn futures.
CBOT September corn settled Monday at $3.88-1/2 per bushel.
SOYBEANS - Up 5 to 10 cents per bushel
Higher on technical buying and short covering, along with forecasts for warmer and drier weather in the US Midwest crop belt.
The CBOT reported 1,048 deliveries against CBOT July soybean futures, along with 10 soymeal deliveries and 63 soyoil deliveries.
CBOT August soybeans settled Monday at $9.70 per bushel.