×

GRAINS-Corn hits one-year high as hot weather threatens crop losses

* Temperatures across key U.S. corn regions soar

* Soybeans firm as much as 2 pct

* Wheat rebounds on adverse weather forecasts

SYDNEY, July 10 (Reuters) - U.S. corn rose nearly 1.5 percent on Monday to hit a more than one-year high as forecasts for soaring temperatures raised fears of potential crop losses. Soybeans rose as much 2 percent as fears of adverse weather pushed prices to a four-month high, while wheat rose more than 1.5 percent. The most active corn futures on the Chicago Board of Trade rose 1.4 percent to $4.10-1/2 a bushel by 0026 GMT, near the session high of $4.11-1/4 a bushel - the highest since June 2016. Corn closed up 0.5 percent on Friday. Sizzling temperatures in the northern U.S. Plains spring wheat belt will spread next week into parts of the western Midwest, threatening corn yield prospects as the crop enters its key pollination phase. "Concerns about dryness in the western areas of the U.S. Corn Belt continue to grain traction," said Hannah Janson, chief analyst, Profarmer. "This crop is currently at the pollination stage, and this has heightened concerns about the effects that hot and dry weather could have on this crop." Temperatures from Kansas through the Dakotas are expected to reach the mid 90s to mid 100s Fahrenheit, or 35 to 41 Celsius, through next week. Soybean futures rose 1.8 percent to $10.33-1/4 a bushel, near the session high of $10.37-1/4 a bushel, the highest since March 7. Forecasts call for continued adverse weather for the next week, stressing crops. The most active wheat futures rose 1.5 percent to $5.43 a bushel after closing down 0.7 percent in the previous session. Forecasts for hot, dry weather continue drive fears of widespread production losses across key U.S. producing regions, stocking expectations of cuts to high protein output.

Grains prices at 0026 GMT

Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 543.00 8.00 +1.50% +0.74% 479.93 66 CBOT corn 410.50 5.75 +1.42% +1.92% 396.51 76 CBOT soy 1033.25 17.75 +1.75% +3.40% 945.13 91 CBOT rice 12.06 $0.06 +0.54% +1.13% $11.63 70 WTI crude 44.59 $0.36 +0.81% -2.04% $45.62 46

Currencies

Euro/dlr $1.140 $0.000 +0.01% -0.18% USD/AUD 0.7601 0.000 -0.05% +0.21%

Most active contracts Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight RSI 14, exponential

(Reporting by Colin Packham; Editing by Richard Pullin)