BEIJING: Chicago soybean and corn futures rose on Monday, supported by concerns over dryness in key exporter Argentina hurting the growth of crops, while wheat also edged higher. FUNDAMENTALS

* The most-active soybean contract on the Chicago Board of Trade (CBOT) was up 1.29% at $10.04 a bushel by 0149 GMT.

* Chicago corn inched up 0.78% to $4.54-2/8 while wheat rose 0.8% to $5.33 a bushel.

* A hot, dry austral summer is beginning to cause damage to Argentina's 2024/25 soybean and corn crops, the country's two main grains exchanges said on Friday, after abundant spring rains had until recently provided excellent growing conditions.

* Kazakhstan exported 3.7 million metric tons of new-harvest grain from September to the end of December, up 54% from the same period in 2023, the agriculture ministry said on Sunday.

* Convoys of farmers set off on Sunday to try to block roads around Paris in protest against what they say is unfair competition from overseas and excessive regulation.

* The Taiwan Flour Millers' Association has issued an international tender to purchase an estimated 114,650 metric tons of grade 1 milling wheat to be sourced from the United States, European traders said. The deadline for submission of price offers in the tender is Jan. 9.

* Commodity funds were net sellers of Chicago Board of Trade soybean, soyoil, soymeal, corn and wheat futures contracts on Friday, traders said. MARKET NEWS

* Asian share markets got off to a wary start ahead of a week brimming with economic news that should underline the relative outperformance of the United States and support the dollar's ongoing bull run.

 

DATA/EVENTS (GMT)

0855 Germany Unemployment Chg SA Dec

0855 Germany Unemployment Rate SA Dec

1500 US ISM Manufacturing PMI Dec

(Reporting by Ella Cao and Mei Mei Chu; Editing by Sherry Jacob-Phillips)


Reuters