Soybean futures may rally to $9.80 a bushel by the end of July on increasing Chinese demand, Phillip Futures said in an e-mailed report.
The Hang Seng China Enterprises Index of mainland stocks traded in Hong Kong is set to advance to levels unseen since May, according to Phillip Futures Pte.
Rubber futures on the Tokyo Commodity Exchange may climb to the highest level since July 2008 because of “bullish momentum,” according to technical analysis from Singapore-based broker Phillip Futures Pte Ltd.
Wheat rose in Chicago, erasing a drop, on speculation that lower prices in the past two days attracted investors and importers. Corn slipped before tomorrow’s release of a U.S. government crop report.
Palm oil advanced on speculation that corn and soybeans, crushed to make a rival vegetable oil, may extend rallies from 29-month highs.
Copper prices in London may climb as much as 14 percent in the first quarter as the metal formed a new uptrend after consolidating in the second half of last year, according to Phillip Futures Pte.
Palm oil gained for a second day, driven by a rebound in soybean prices and concern that oilseed harvests from Canada and China may be hurt by bad weather, potentially tightening global supplies.