Updates with latest prices
BEIJING, Dec 23 (Reuters) – Chicago soybeans, corn and wheat extended gains on Thursday as dry weather in South America is expected to hit production.
Crop stress encompasses about one-third of soybeans and corn in southern Brazil, and less than 10% of Argentina’s corn and soy, according to Commodity Weather Group.
The most-active corn contract Cv1 on the Chicago Board of Trade (CBOT) was up 0.2% at $6.03-3/4 a bushel around 0400 GMT, set for a third day of gains.
Wheat Wv1 rose 0.4% to $8.18 a bushel extending gains to a fifth day, while the most-active soybean contract Sv1 was up 0.1% at $13.35-3/4 per bushel, continuing its advance since Dec. 14.
Major global grain producer Ukraine will consider limiting milling wheat exports in the first half of 2022, with officials expected to decide on the issue in mid-January, two sources familiar with the discussions told Reuters.
Argentine farmers have sold 36.3 million tonnes of soybeans from the 2020/21 season so far, the Agriculture Ministry said on Wednesday in a report that included data through Dec. 15.
Algeria’s state grains agency, OAIC, is believed to have purchased durum wheat in a tender which closed on Tuesday after negotiations continued into Wednesday, European traders said.
Commodity funds were net buyers of Chicago Board of Trade corn, wheat, soybean, soymeal and soyoil futures contracts on Wednesday, traders said. COMFUND/CBT
(Reporting by Emily Chow; Editing by Vinay Dwivedi)
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