US: Chicago corn, soy and wheat tick up after last week’s falls

Chicago corn, soybeans and wheat firmed on Monday, as demand picked up after the prior week’s losses, with concerns over dryness in Argentina further supporting corn prices. The most-active corn contract on the Chicago Board of Trade (CBOT) ZC1! was up 0.34% at $4.47-6/8 a bushel, as of 0503 GMT. CBOT soybeans ZS1! rose 0.15% to $9.81 a bushel after touching four-year lows last week, while wheat ZW1! gained 0.98% to $5.38 a bushel. “All markets are up as the latest falls have spurred new demand to pop up,” said Ole Houe, director of advisory services at IKON Commodities in Sydney. “The world of wheat is set to get tighter next year, so buyers are keen not to get caught out.” A stronger dollar had made U.S. crops less competitive, compared with supplies from rival exporters. The U.S. dollar index DXY was steady in early trade at 107.78, near the two-year high of 108.54 touched on Friday, after U.S. inflation data showed a modest rise for last month, easing some concerns about the ...