US grain futures soared early on Friday as investors regained their appetite for risk, with corn rising by its expanded trading limit to post the biggest two-day gain in more than eight months. Wheat rose 4.5 percent, rising for the second straight day for a total gain of nearly 13 percent. Soyabeans rose 3 percent, taking their three-day gain to nearly 9 percent.
The trading limit in Chicago Board of Trade corn was expanded to 45 cents per bushel after futures rose by the 30-cent limit on Thursday amid widespread rumours that China had bought up to 500,000 tonnes of corn from the United States. At 11:37 am CDT (1637 GMT), May wheat was 23-1/4 cents a bushel higher at $7.33-1/2, May corn 41 cents higher at $7.87-1/2 and May soyabeans 35 cents higher at $13.70-1/4.