A weak dollar sparked a rally in Chicago Board of Trade corn, soyabean, and wheat futures early on Wednesday as commodity prices rebounded from sharp drops on Tuesday. Continued demand from China for US soyabeans also lent strength to prices early.
CBOT trends at 9:49 am CDT (1449 GMT) on Monday:
December wheat up 9 cents at $6.80-1/2 a bushel. KCBT December up 8 cents $7.23-1/2; MGEX December up 8 cents at $7.37-1/2. December corn up 14 cents at $5.60 a bushel. Occasional rainfall over the short and medium term is likely to slow US corn and soybean harvest but the showers aren't seen as a major problem since crops have been harvested at a record pace.
November soyabeans up 19-1/2 cents at $11.99-1/2 per bushel; January up 21 cents at $12.12-1/2. Exporters sell 180,000 tonnes US soyabeans to China for 2010/11 delivery, said USDA. December soyameal up $5.80 at $334.00 per ton. December soyaoil up 0.90 cent at 48.00 cents per lb.
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