Wheat rose for a third day in Chicago

Wheat rose for a third day in Chicago on concern that dry weather in the U.S. can damage the crop in the world's largest exporter and the rains could delay the harvest in Australia, causing a decrease in quality.

areas hard red winter wheat in the U.S. be kept dry during the next week, said Mike Tannura, a meteorologist and an agricultural economist at T-Storm Weather LLC, in an email today. Recent rains may extend the harvest delays of up to two weeks in some growing regions of Australia, as GrainCorp Ltd., the largest in eastern Australia's grain handler.

"We're seeing out the negative climate of Australia in terms of quality," said Michael Pitts, director of sales of commodities in the National Australia Bank Ltd., by telephone from Sydney. "There are also continuous drying" in the U.S., he said.

Wheat for March delivery gained 5.25 cents, or 0.8 percent, to $ 6,925 per bushel at 1:14 pm London time on the Chicago Board of Trade. The grain has soared 44 percent since late June as the worst drought in Russia in a half-century production of brake and caused the country to ban exports of cereals.

Australia, the wheat exporter's fourth largest, will increase sales of supplies of feed grade this season as the reduction of rainfall in the quality of the crop, AWB Ltd., the nation's largest carrier, said on 16 November.

Milling wheat for January delivery traded on NYSE Liffe Paris advanced 0.8 percent to 220 euros ($ 289.28) per metric ton.

Corn and soybeans rose in Chicago on speculation dry weather in Argentina will further delay planting and reduce output amid signs of rising demand from importers. The weather will be drier than normal in the next 10 days, which limits crop growth, Tannura T-Storm said.

Corn for March delivery rose 2.5 cents, or 0.5 percent, to $ 5.555 a bushel. The grain has advanced 34 percent this year, partly by dry weather in August halted U.S. production.

Soybeans for January delivery gained 2 cents, or 0.2 percent, to $ 12,405 a bushel. Oilseeds has increased by 12 percent since late September on increased demand from China.