Wheat rose as a cold spell this week in France, the European Union's top wheat grower, brought record temperature lows for April, tempering recent optimism about harvest prospects.
The US soybean crush likely fell to 4.952 million short tons in February, or 165.1 million bushels, according to the average forecast of nine analysts surveyed by Reuters ahead of a monthly USDA report.
Workers at the Argentine grains port hub of Rosario ended an hours-long strike on Friday, after the government ordered labor unions to negotiate a settlement with management.
Russia is prepared to stop interfering in the regulation of grain exports when the market stabilises, the Interfax news agency cited Agriculture Minister Dmitry Patrushev as saying on Tuesday.
Port premiums for Brazilian soybeans have turned negative as rains disrupt harvesting and transportation of the oilseeds in key growing states such as Mato Grosso, analyst Luiz Roque from agribusiness consultancy Safras & Mercado said on Tuesday.
The export cap that had been imposed at the start of the week was criticised by growers who said it would weigh on production. Argentina, the world's No. 3 corn exporter, is also the top international supplier of soymeal livestock feed.
Money managers' net long in CBOT wheat futures and options rose to 13,360 contracts through Dec. 29 from 6,233 a week earlier. That is less bullish than a year ago, but it is uncharacteristically optimistic for the time of year versus other recent years.