|Published : 17 Apr 2017, 14:33:25|
Soybeans hit two-week high
Chicago soybean futures climbed to their highest in more than two weeks on Monday, rising for a third consecutive session as forecasts of heavy rains in parts of the US Midwest are expected to delay fieldwork, reports Reuters.
Corn edged lower after rising for the last two sessions although losses were limited by delays in planting in the United States, wheat was little changed after closing 0.8 per cent lower on Friday.
Rain showers forecast across the western half of the US grain belt this week are likely to stall farmers as they try to plant corn and soybeans, agricultural meteorologists said on Thursday.
"We are expecting some planting delays in the US, as over the next 15 days, there are forecast of excessive rains in some areas," said Rajesh Singla, head of agriculture research at Societe Generale.