Soybeans, corn rebound as heat dents US crop ratings

• The most-active soybean contract on the Chicago Board of Trade Sv1 added 0.3% to $12.17-1/2 a bushel, as of 0030 GMT, and corn Cv1 gained 0.7% to $4.77-1/2 a bushel.
• Wheat Wv1 rose 0.4% to $6.62-1/2 a bushel.
• The U.S. Department of Agriculture said after the market closed on Monday that 63% of the corn crop was rated in good-to-excellent condition as of Sunday, down from 67% a week earlier.
• Ratings for soybeans declined to 63%, from 66% a week earlier, it said. Ratings for both crops were below the average analyst estimate.
• Soybeans and corn fell sharply on Monday, tracking weakness in crude oil. Prices of agricultural products are often influenced by energy markets, with the rapidly growing use of farm goods in biofuel production.

• Stocks were mixed on Monday while oil prices tumbled and Treasury yields dropped after the United States and Iran paused strikes over the weekend, halting two weeks of attacks. MKTS/GLOB

DATA/EVENTS (GMT)

1000 France Unemp Class-A SA June

1400 US Consumer Confidence July

U.S. Federal Reserve's Federal Open Market Committee starts its two-day meeting on interest rates (To July 29)

• Attacks on grain infrastructure and ships by Russia and Ukraine continued to hamper the movement of cargoes, threatening supplies to importers in the Middle East, Africa and Asia.