Grains were higher to start the week as soybeans shot higher by a dime in overnight trade while wheat and corn posted modest gains.
China will promote high-quality, branded farm products as it reforms its agricultural sector to meet demand from a growing middle class and boost rural incomes, the government's first policy statement of the year shows.
Beijing is trying to modernize its sprawling farm sector, the world's largest, and re-balance output away from basic grains towards foods such as meat, dairy and other value-added products increasingly in demand from its urbanizing population.
Russia’s wheat prices were stable last week as weather was not damaging to the winter wheat crop. Prices there were unchanged for the week at $186 fob.
In Brazil, Mato Grasso sees harvest progress quickly as the crop is 34 percent harvested, up from 14 percent last week.
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