US grain prices climbed about 1 percent early on Thursday amid worries that poor weather would crimp crop production even as economic concerns held down other commodities such as oil and copper. Wheat futures jumped 1.3 percent, rebounding from a two-day slump as weather-reduced production in Europe and North America overshadowed pressure from Russia's return to the export market after a year's absence.
Soyabeans rose 1.2 percent as worries about reduced plantings lifted prices out of a recent range and triggered technical buying which helped to propel prices to two-month highs. Chicago Board of Trade July corn rose 0.7 percent to $7.64 a bushel by 12:26 pm CDT (1726 GMT). New-crop December futures gained 1.7 percent to $6.91 after earlier hitting a contract high of $6.93 a bushel.
July soybeans jumped 1.2 percent to $14.02-3/4 a bushel after hitting a peak of $14.11-1/2, the highest since April 1. July wheat, meanwhile, climbed 1.2 percent to 7.68-1/4 a bushel, rebounding from a two-day slide which was triggered by news that Russia would resume grain exports in July and took prices down more than 7 percent to two-week lows.
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