SINGAPORE- US wheat futures found support early Tuesday after slumping more than 3 percent on Monday to two-week lows on forecasts for decent growing conditions in the US Plains and waning fears of an imminent invasion by Russia into Ukraine.
Chicago soybean and corn futures both eased slightly in quiet trade, but clung close to recent seven-month highs as traders continue to assess how dry conditions in South America may boost US crop demand.
Chicago Board of Trade March wheat futures were up 0.1 percent at $7.62 a bushel.
Chicago March soybeans were 0.1 percent lower at $14.88 3/4 a bushel, while March corn was down 0.08 percent at $6.25 1/2.
Speculators ramped up bullish views in Chicago corn and soybeans last week with futures notching or nearing new highs, but despite the unusually strong optimism, investors are much less invested than a year ago.
