US soyabean futures climbed to a fresh five-month high on Wednesday and were headed for their biggest monthly gain in more than a year, bolstered by growing export demand and investment fund buying. Soyabeans were holding onto gains after trading in both positive and negative territory, while corn and wheat futures each lost ground early in trading as a firm dollar capped gains and traders adjusted positions before the start of a new month.
Soyabean futures were poised to rise more than 9 percent for the month in what would be the largest monthly gain since December 2010, while corn was headed for a monthly rise of about 2.5 percent. Soyabeans for March delivery were up for the eighth straight session at the Chicago Board of Trade, rising 3-3/4 cents to $13.09 per bushel, the highest level since September. CBOT March corn eased 1-3/4 cents to $6.51-3/4 per bushel while CBOT March wheat fell 3 cents to $6.59 per bushel, on track for a monthly decline of about 1 percent.