US wheat prices early on Monday posted a sharp rebound from last week's slide, lifting corn futures as traders said a weaker dollar added support to a market that was oversold. Wheat led the way, with the Minneapolis spring wheat market up 2.8 percent at midday, while Chicago wheat and corn were both up over 1 percent. Soyabeans prices were choppy in mixed trade at midday.
Minneapolis Grain Exchange spring wheat futures rose 2.8 percent to $8.74-1/2 as the front-month MGE December gained against deferred contracts on spreads, and a lack of farmer selling kept spot supplies tight, traders said. At 11:18 am CDT (1618 GMT) CBOT December wheat was up 6-3/4 cents, or 1.1 percent, at $6.47-1/2, CBOT November soyabeans were down 2-1/2 cents at $12.56 a bushel, and CBOT corn was up 9 cents, or 1.4 percent, at $6.47-1/2.
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