U.S. soybean prices eased Monday as forecasts of rain in the dry areas of Brazil and Argentina, two major exporters, and rising U.S. supply boosted harvesting.

Corn futures were pushed higher by solid exports and spillover support provided by a rising crude-oil market. Wheat also advanced due to global weather concerns and the continued hostilities around the Black Sea breadbasket.

The recent strengthening of the U.S. Dollar has created headwinds in the grain industry, as goods denominated in dollars are more expensive for those who hold other currencies.

Grain traders also adjust their positions in advance of the U.S. Department of Agriculture's (USDA) monthly supply and demand report, due Friday.

Don Roose is the president of U.S. Commodities. He said, "We are waiting for the crop report to come out and see if there really is a change in South American climate patterns."

Brazil has been dry for the entire year. "It feels like rainy season is about to start," he said.

Chicago Board of Trade November soya beans ended up down 3-3/4 Cents at $10.34 per bushel while December corn gained 1-1/4 Cents to $4.26 per bushel.

The supply of both markets is still rising due to the ongoing harvest, which is expected be a crop with a record yield.

According to the polled analysts, 44% of U.S. corn and 34% soy crops will have been harvested by Sunday. Crop ratings are expected to remain strong.

Wheat futures rose on concerns about the dry conditions in key production areas including the Southern U.S. Plains and the Black Sea Region.

Concerns about Black Sea disruptions in grain supply led to support for corn and wheat after a grain ship was struck by a Russian rocket.

The low Russian wheat price and the strong dollar have been a major obstacle for U.S. grain exports, which have had to compete against cheaper grain from other sources.

CBOT December Wheat rose by 2-3/4 cents, to $5.92-12 a bushel. (Michael Hogan contributed additional reporting from Hamburg, and Naveen Thkral from Singapore. Sherry Jacob Phillips, Pooja Deai, David Evans, and Mark Porter edited the story.)

(source: Reuters)