Soyabean futures on the Chicago Board of Trade rose to the highest spot price in 27-1/2 months on Monday on technical buying and concerns about hot and dry conditions forecast in Argentina, traders said. Corn climbed for an eighth day to another 29-month high spot price, buoyed by the Argentine forecasts and spillover strength from soyabeans. But wheat fell on improving harvest weather in south-east Australia.
CBOT trends at 10:40 am CST (1640 GMT) on Monday. March wheat down 4-1/2 cents at $7.78-1/2 per bushel. March corn up 2 cents at $6.16 per bushel. Front-month March hit $6.19, highest spot corn price in 29 months, following strength in soyabeans. Support from concerns about stress from hot and dry weather as Argentina's crop pollinates. January soyabeans up 15-1/2 cents at $13.65 per bushel. Front-month March rose to $13.69, highest spot price in 27-1/2 months, on concerns about hot and dry weather forecast in Argentina, and chart-based buying.
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