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U.S. Crop Outlook Caps Gains

Wheat rises for second straight day

Chicago wheat futures rose for a second straight session on Monday, gaining more than 1% in Asian trade, although expectations of a larger U.S. harvest limited gains, reports Reuters.

Corn added 0.2% at $3.32-1/2 a bushel and soybeans were up 0.5% at $8.67-1/2 a bushel.

USDA raised its outlook for domestic supplies of corn on Thursday on expectations for reduced usage by ethanol producers, as demand for the alternative fuel has been cratering due to the spread of the novel coronavirus.

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