Chicago wheat rose on Monday, with bargain buying supporting after prices fell almost 3% on Friday on expectations of improved weather in key growing areas.

Soybeans and corn rose, recouping some of Friday's losses.

"It is combination of two factors which pressured prices. There is improved weather in Russia and U.S. for wheat planting and demand is pretty subdued," a Singapore-based trader said. "Buyers are not active in the market as they are looking at a big crop from Australia despite some damage from dryness."

Chicago Board of Trade most-active wheat rose 0.6% to $5.76-1/4 a bushel at 1005 GMT after on Friday falling 2.8%.

Soybeans rose 0.7% to $9.77-1/4 a bushel, having dropped sharply on Friday, corn rose 0.6% to $4.07-1/2 a bushel.

Rain forecast for some parched wheat areas in southern Russia and the central United States eased worries about dryness hampering plantings for the 2025 crop, though drought was still seen as a risk.

Dryness in south Australia is depressing wheat yields but the country could

still produce

an above-average harvest.

Russian government export restrictions fuelled concerns some grain traders will be left holding large supplies of wheat, weighing on prices, but with market confusion about the likely impact.

Russian grain exporters will

sell

directly to sovereign buyers, while non-Russian winners of international tenders will receive Russian grain only if they have long-term off-take agreements with Russian firms.

“It is still not clear how this is going to work, especially as most Russian exporters have foreign trading subsidiaries in places like Switzerland and Dubai, and the status of such subsidiaries is unclear,” one German trader said.

"It looks more like taking control rather than changing trade flows. Russia's

minimum export price

could anyway mean Russia anyway loses wheat sales in tenders which would be bullish for other origins.”

(Reporting by Michael Hogan in Hamburg and Naveen Thukral in Singapore; Editing by Rashmi Aich and Maju Samuel)