WHEAT – Up 1 to 3 cents per bushel.
* Market supported by concerns about tight supplies of quality wheat following weather problems in Australia and dry conditions in the U.S. Plains. Softer dollar lends support.
Wheat also seen as oversold following active corn/wheat spreading this month. CORN – Steady to up 1 cent per bushel.
* Supported by worries about dryness and hot weather in Argentina, along with a softer U.S. dollar. But market seen consolidating in pre-holiday trade. Traders eyeing the $6.00
strike in January corn options ahead of expiration on Thursday.
* Cooler weather Thursday and Friday may generate scattered rain in Argentina’s crop belt but probably not enough to ease concerns over developing dryness. Hot weather returns this
weekend, threatening yield potential for pollinating corn.
SOYBEANS – Up 1 to 3 cents per bushel.
* Spot contract set a 5-1/2-week high at $13.19-1/4 during Globex trade on continued worries about Argentine crop prospects. Weaker dollar lends support.