SINGAPORE/HAMBURG, Oct 21 (Reuters): Chicago wheat rose on Monday, with bargain buying supporting after prices fell almost 3 per cent on Friday on expectations of improved weather in key growing areas.
Soybeans and corn rose, recouping some of Friday's losses.
"It is combination of two factors which pressured prices. There is improved weather in Russia and US for wheat planting and demand is pretty subdued," a Singapore-based trader said.
"Buyers are not active in the market as they are looking at a big crop from Australia despite some damage from dryness."
Chicago Board of Trade most-active wheat rose 0.6 per cent to $5.76-1/4 a bushel at 1005 GMT after on Friday falling 2.8 per cent.
Soybeans rose 0.7 per cent to $9.77-1/4 a bushel, having dropped sharply on Friday, corn rose 0.6 per cent to $4.07-1/2 a bushel.
Wheat up after deep losses
FE Team | Published: October 21, 2024 22:04:33
Wheat up after deep losses
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