国际英语新闻：Chicago wheat futures jump most in a week on crop worries

CHICAGO, Aug. 30 (Xinhua) -- Chicago wheat futures jumped the most in a week on Monday on speculations that the persisting drought in Argentina and Australia, as well as the excessive precipitation in Germany, would further reduce global wheat supplies.

Corn extended gains on recent strong export demand and the possibility of lower yields of U.S. crops. Soybean ended lower.

December corn rose 5.5 cents, or 1.3 percent, to 4.415 U.S. dollars per bushel. December wheat surged 9.5 cents, or 1.4 percent, to 7.045 dollars per bushel. November soybean lost 3.5 cents, or 0.3 percent, to 10.225 dollars per bushel.

Traders noted that the outside markets added some downward pressure on the grain markets on Monday, with a higher dollar and ongoing concerns about the U.S. economy, but investors' main focus was on the supply situation.

German wheat prices touched the highest level in 28 months on Monday on concerns that the continuing rains in Germany would cause enormous yield and quality losses. Meanwhile, the dry conditions in Western Australia and parts of the wheat-growing belt in Argentina also added to the uncertainty in world wheat production this year.

Corn moved higher and once hit the highest level since Jan. 11, on speculations that the yields of U.S. corn crops might be lower than 165 bushels per acre, which was predicted by the USDA in early August. Traders noted that a combination of tightening supply with decent demand has provided a lot of bullish volatility.

Soybean reversed gains and ended a tad lower, as last week's export inspection for soybean only reached 7.17 million bushels, which is much lower than the level of 11.8 million bushels a week ago, as well as analysts' forecast of 10 million to 15 million bushels.