Investing.com - U.S. soybean futures rose to a seven-week high on Monday, as ongoing concerns over a disruption to supplies from Brazil boosted prices.
On the Chicago Mercantile Exchange, US soybeans for May delivery ticked up 1.52 cents, or 0.15%, to trade at $10.3313 a bushel during U.S. morning hours after touching an intraday high of $10.3900, the most since January 12.
On Friday, soybean prices rose 5.2 cents, or 0.51%, to settle at $10.3160. Prices of the oilseed increased 26.26 cents, or 3.05%, last week, the fourth consecutive weekly gain.
A strike by Brazilian truck drivers protesting high fuel prices entered its second week, threatening to hold up grains exports at the nation's second-largest grain hub in Paranagua.
Brazil is a major soybean exporter and competes with the U.S. for business on the global market. A disruption to supplies there could mean increased demand for U.S. supplies.
Meanwhile, US wheat for May delivery hit a daily peak of $5.1860 a bushel, the strongest level since February 20, before trading at $5.1463, up 1.62 cents, or 0.32%.
The May wheat contract soared 12.4 cents, or 2.5%, on Friday to end at $5.1300 as frigid weather conditions in the U.S. Great Plains and Midwest fuelled concerns over the health of the winter-wheat crop.
Elsewhere on the Chicago Board of Trade, US corn for May delivery dipped 0.38 cents, or 0.1%, to trade at $3.9263 a bushel.
US corn for May delivery touched $3.9620 on Friday, a level not seen since January 13, before closing at $3.9320, up 4.6 cents, or 1.22%.
Corn is the biggest U.S. crop, followed by soybeans, government figures show. Wheat was fourth, behind hay.