(Reuters) – U.S. soybean futures rose for the first time in five sessions on Monday, though gains were checked by expectations of bumper global supplies.
FUNDAMENTALS
* Chicago Board of Trade March soybeans climbed 0.74 percent to $10.15-1/2 a bushel, after slumping 1.6 percent on Friday.
* March corn gained 0.76 percent to $3.98-3/4, having closed down 0.32 percent in the previous session.
* March wheat rose 0.7 percent to $5.85-1/4 a bushel, having ended down 1.4 percent on Friday.
* Investors are turning their attention to crops in South America. A few Brazilian farmers have already started harvesting soybeans, with many expected to ramp up in February.
* Wheat rebounded after losses on easing concerns about damage from cold weather to the dormant U.S. Plains hard red winter wheat crop had weighed on prices. But traders are monitoring temperatures in eastern Midwest soft red winter wheat areas next week as forecasters expect temperatures to plunge to potentially crop-damaging levels.
MARKET NEWS
* The euro fell to a nine-year low against the dollar on Monday as bets mounted on a further decline for the currency, faced with the possibility of more monetary easing by the European Central Bank and its diminishing status as a reserve currency.
