WHEAT – Up 13 to 15 cents per bushel.
News Algeria bought 600,000 tonnes of wheat on Monday, had purchased up to 1 million tonnes over the past couple of weeks and harsh weather in Australia and the U.S. combine to lift wheat futures. Lower dollar also supportive. CORN – Up 6 to 7 cents per bushel.
Spillover support from soaring wheat with further support from outlooks for shrinking U.S. supplies of corn this year. Lower dollar also
supportive.
* China to start stockpiling state corn reserves soon – paper.
* Rainfall over the weekend in Argentina helps ease stress on crops, except in Cordoba where it continued dry. Cooler temperatures also beneficial to crops but a turn to hot and dry weather late this week a concern. More rain is needed in Brazil’s Rio Grande do Sul and Parana crop regions following recent hot and dry weather.
SOYBEANS – Down 2 to 3 cents per bushel.
Showers over the weekend and early this week in Argentina that will help boost crop prospects weigh on soy futures. Market underpinned by
higher wheat and corn and a weak dollar.
* China cancels 2 US soy as government sales hurt margins, buyers shift to Brazilian supplies.
* Soy crops in Argentina benefited from rainfall over the weekend, except in Cordoba where it continued dry. Cooler temperatures also beneficial to crops but a turn to hot and dry weather late this week a concern. More rain is needed in Brazil’s Rio Grande do Sul and Parana crop regions following recent hot and dry weather.
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