U.S. grain futures were broadly higher during European morning hours on Wednesday, with soybean prices rising to a two-week high on the back of fresh concerns over crop conditions in Brazil.
On the Chicago Mercantile Exchange, soybeans futures for November delivery traded at USD15.6512 bushel, adding 0.75%.
The November contract rose by as much as 0.8% earlier in the session to hit a daily high of USD15.6562 a bushel, the highest since October 11.
Concerns over soy crops in Brazil mounted after agricultural meteorologists predicted showers in key grain-growing regions in southern Brazil later this week will be mostly light and temperatures will remain above normal.
Brazil is the world?s second largest exporter of the oilseed, trailing only the U.S.
Elsewhere, in Argentina, the third largest shipper, heavy rains forecast this month may delay planting of the soy crop, the Rosario Exchange said.
Soybean prices have been under heavy selling pressure in recent weeks, losing nearly 13% since hitting an all-time high of USD17.8888 a bushel on September 4, as U.S. farmers started harvesting soybeans at a brisk pace.