World markets for grains and oilseeds

Soybean futures on the Chicago Mercantile Exchange rose as short covering eased and traders prepared for the holiday season, despite consistent rainfall in Brazil expected to benefit oilseeds. Wheat futures fell due to a stronger dollar and traders taking positions for the holidays. The article also discusses potential impacts on grain exports and markets from weather conditions in Argentina and the U.S., as well as Algeria's purchase of milling wheat.

Soybean futures on the Chicago Mercantile Exchange gained Tuesday as short covering eased after hitting four-year lows last week and as traders geared up for the holiday season. Most-active March soybeans rose 5 3/4 cents to settle at $9.81-1/4 a bushel. Most-active March soymeal futures on the CBOT rose $3.60 to settle at $301.60 a short ton. Most-active March soyoil futures on the CBOT rose 36 cents to settle at 40.30 cents a pound. Soybean futures have been weighed by consistent rainfall that has benefited oilseeds in Brazil, a leading supplier that is expecting a record crop. But those expectations are already priced into the market, analysts said. Spot rates for soybeans and corn shipped by barge to U.S. Gulf Coast export terminals were broadly stable on Tuesday, traders said. Frequent rains over the next two weeks will mainly benefit soybean and corn yields in northern Brazil, according to Commodity Weather Group. In Argentina, another soybean and corn exporter, drought is ...