BEIJING - Chicago soybean futures climbed on Tuesday, recouping losses from the previous session, as ‍traders grappled with ‍teetering broader commodity markets and rebounding gold prices.

Wheat and corn also traded ​higher.

The most-active soybean contract on the Chicago Board of Trade (CBOT) was up 0.2% at $10.62-3/4 a bushel, ⁠as of 0453 GMT. CBOT wheat was up 0.3% at $5.29-1/4 a bushel and corn rose 0.3% to $4.27 a ⁠bushel.

"Soybean and ‌grain prices increases are related to the rebound in gold and silver prices. Recently, a sharp drop in gold and silver led the broader commodities ⁠market to pull back," a Shanghai-based analyst said, requesting anonymity.

Gold and silver rebounded more than 2% on Tuesday after a sharp selloff that was triggered by the nomination of Kevin Warsh as the next Fed chair and higher margin requirements at CME Group.

Commodity markets ⁠slumped on Monday as a ​de-escalation of tensions between the United States and Iran propelled steep losses in oil prices.

Ample global supply, however, weighed on ‍the market.

In South America, Brazil is in the early stages of harvesting what is forecast to be a ​record soybean crop. Traders expect China to turn mainly to Brazil for imports in the coming months after a recent wave of U.S. soybean purchases.

StoneX and agribusiness consultancy Celeres raised their forecasts for Brazil's 2025/26 soybean crop on Monday, citing higher yields than previously expected in the world's largest producer and exporter of the oilseed.

StoneX pegged Brazil's soybean output this season at 181.62 million metric tons, up from 177.61 million tons previously — a 7.6% year-on-year increase.

Celeres estimated a record 181.3 million tons, a 5% increase from its previous forecast of 177.2 million tons.

For ⁠wheat, "lower demand and increased global competition can also weigh downn ‌contracts," the Shanghai-based analyst added.

In Russia, a major wheat exporter, wheat export prices rose for the third consecutive week amid a strengthening rouble and poor weather at ports, while analysts do ‌not see ⁠any damage to crops from a cold spell that hit many areas of the country.