Wheat rises 2% on supply woes; corn, soybeans weak

Reuters Images

Corn and soybeans lost ground

Naveen Thukral, Reuters News

May 9, 2022

PHOTO

SINGAPORE, May 9 (Reuters) - Chicago wheat futures rose almost 2% on Monday, with prices underpinned by concerns over supplies.

Corn and soybeans lost ground.

FUNDAMENTALS

* The most-active Chicago Board of Trade wheat (CBOT) added 2% to $11.30 a bushel, as of 0039 GMT. Corn dropped 0.3% to 7.82 a bushel and soybeans lost 0.3% to $16.15-1/2 a bushel.

MARKET NEWS

* Asian markets got off to a shaky start on Monday as U.S. stock futures took an early skid on rate worries, while a tightening lockdown in Shanghai stoked concerns about global economic growth and possible recession.

(Reporting by Naveen Thukral; editing by Uttaresh.V)

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