Soybean fall

Reuters

Sydney

U.S. soybeans fell for a fifth straight session on Monday to hit an 11-day low as rains across Brazil's key producing region eased concerns of potential yield losses in the world's largest exporter.

Corn fell for a fifth consecutive session, while wheat rose nearly 0.5 percent in muted trading as the market reopened for the first time since the Christmas holiday.

Chicago Board of Trade January soybeans fell 0.41 percent to $8.71-1/2 a bushel, near the session low of $8.71 a bushel - the lowest since December 17. Soybeans closed down 0.7 percent on December 24. Traders said the losses have been triggered by heavy rains in Brazil´s key producing state of Mato Grosso.

"There has been heavy rains in South America and for soybeans particularly, Mato Grossa received some good moisture with forecasts also calling for follow-up rains," said a Sydney-based grains broker, who spoke on condition of not being named as he is not authorised to talk to the media.