GRAINS-U.S. wheat extends gains on threat from dry, chilly weather

martes 29 de marzo de 2016 15:13 GYT
 

* Weather forecasts suggest southern U.S. Plains to stay dry

* Soybeans follow soyoil higher

* Corn rises, market mulls end to China stockpiling

* Trading subdued in run-up to USDA planting report (Updates with closing U.S. prices)

By Rod Nickel and Gus Trompiz

WINNIPEG, Manitoba/PARIS, March 29 (Reuters) - Chicago wheat climbed on Tuesday to add to sharp gains a day earlier as the market assessed the risk of yield losses to U.S. crops due to a combination of dry and cold weather.

Corn finished stronger and touched a nearly two-month high, with traders digesting news that China is to scrap its stockpiling scheme for the grain, a move that could curb imports.

Soybeans also gained on technical buying, with many investors looking ahead to Thursday's U.S. planting and stocks estimates from the U.S. Department of Agriculture (USDA).

The most-active May wheat contract on the Chicago Board of Trade rose 5-3/4 cents, or 1 percent, to $4.76-3/4 a bushel, after closing up 1.7 percent on Monday when prices hit a two-week high of $4.77-1/4.   Continuación...