Soybeans fell to the lowest since January 2012, as rain in the Midwest and more forecast for August boosted U.S. yield potential. Wheat and corn futures rose on speculation that demand will improve after prices slid.
Milling wheat futures were little changed in Paris as U.S. markets were closed and as traders weighed signs of importer demand for the grain against an outlook for bigger harvests in the Black Sea region.
Soybeans rebounded from the lowest in a month amid speculation this week’s price slump will attract importers, while crop conditions in Brazil may decline on the return of dry weather in northern growing areas.
Soft wheat production in the European Union may be 2.6 percent larger than last year as increasing harvests in southern and eastern Europe make up for declines in the U.K., grain-industry lobby Coceral said.