SINGAPORE- Chicago most-active soybean and corn futures both stretched to fresh seven-month highs during Asian trading hours on Monday, as traders fixated on how a possible downturn in crop supplies from South America could underpin demand for US crops.
March soybean futures peaked at $14.96-3/4 a bushel in early trade on Monday, before easing to around 14.92-3/4. March corn followed a similar path and held around $6.41 a bushel throughout.
Trading volumes were light, with market participants in China and elsewhere in Asia observing the Lunar New Year holiday. China’s main futures markets are closed until Feb. 7. – Reuters
