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Chicago soybean futures rose to their highest level in a week on Thursday, supported by renewed optimism over trade and concerns about crop weather.
Wheat futures also moved higher on short-covering, while corn futures posted modest gains.
By 12:58 p.m. US Central Time, Chicago July soybean futures were up 9 cents at $10.54 per bushel after reaching $10.56 3/4, the highest level for the contract since May 28.
July corn futures rose 3/4 cent to $4.39 1/2 per bushel, while July wheat futures gained 2 3/4 cents to $5.46 per bushel.
Some analysts also pointed to forecasts for hotter and drier weather in mid-June, which could pressure developing US crops and provide additional support to prices.
In corn, gains in the July contract were smaller than those in the December contract, as demand for old-crop US corn showed signs of slowing ahead of Brazil’s second-crop harvest.
USDA reported weekly export sales of old-crop US corn at 942,300 metric tonnes, within market expectations but 31% below the previous four-week average.
Wheat markets continued to monitor global supply risks and short-covering activity.