SINGAPORE/PARIS: Chicago soybeans rose on Tuesday, recouping some of the last session’s losses, although expectations of a bumper US harvest limited the upside in prices.
Corn firmed, while wheat prices fell amid plentiful global supplies. The most-active soybean contract on the Chicago Board of Trade rose 0.4 percent to USD10.51-3/4 a bushel as of 1040 GMT. The contract
dropped in the last session after hitting two-month highs on Friday. Corn added 0.1 percent to USD4.12-3/4 a bushel and wheat shed 0.1 percent to USD5.29-1/2 a bushel. The US Department of Agriculture raised its good-to-excellent rating for the nation’s soybean crop and kept its corn crop rating steady in a weekly report on Monday, surprising analysts who had expected slight declines.
The agency rated 71 percent of the corn crop as being in good or excellent shape as of August 24, unchanged from a week earlier.