SYDNEY: U.S wheat and corn futures firmed 1 percent in Asian trade on Monday, as global financial markets steadied and the focus of grains trading returned to fundamentals such as the weather.
Wheat futures for September delivery on the Chicago Board of Trade fetched $7.12-3/4 per bushel, up 1.5 percent, extending gains made on Friday amid concerns that some U.S. farmers may not be able to plant next month due to drought.
Corn for December delivery , the most active month, traded 1 percent higher at $7.22-1/4 a bushel, while soybeans for November firmed 0.8 percent to $13.45-1/2 per bushel, after a recent sharp downgrade to crop estimates for both commodities.
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