Soyabeans and corn rose to multi-week highs on Monday as South American weather threatened to cut yield potential. Wheat also gained on spillover support from corn. Fields in parts of Brazil, which is set to supplant the United States as the world's top soyabean exporter next year, and in Argentina, the No 3 shipper, need more rain, while rising temperatures forecast for this week could stress crops.
"You've got the outside markets and the currency in particular allowing the weather to come in and trade the price action again," said Mike Zuzolo, president of Global Commodity Analytics in Lafayette, Indiana. "And that's something we haven't had for the last 60 to 75 days."
Chicago Board of Trade January soyabeans rose 10-3/4 cents or 0.9 percent to $11.40-1/2 a bushel by 9:50 am CST (1550 GMT), touching the highest price in nearly four weeks. March corn gained 11-1/4 cents or 1.9 percent to $5.94 a bushel, touching a more than two-week top. Corn and soya pared gains from European trading hours. March wheat climbed 11-1/4 cents or 1.9 percent at $5.95 a bushel, following corn. The grains are linked through their common use as animal feed.