SINGAPORE- Chicago soybean futures rose for a third consecutive session on Wednesday to trade near their highest in nearly six weeks, on technicals and as global stimulus packages eased concerns over the economic impact of the coronavirus.
The most-active soybean contract on the Chicago Board Of Trade was up 0.1 percent at $9.04-3/4 a bushel, having firmed 0.3 percent on Tuesday, when prices hit 9.08 a bushel, their highest since Jan. 24.
Wheat futures Wv1 were down 0.4 percent at $5.25-1/4 a bushel, falling for a fifth session out of six on expectations of higher supply.
Corn edged 0.1 percent lower to $3.81 a bushel.
The US Federal Reserve cut interest rates on Tuesday in an emergency move designed to shield the world’s largest economy from the coronavirus epidemic, which originated in China late last year and has since upended global supply chains, travel and production. . Reuters
