The most active corn contract for May delivery rose 3.75 cents, or 0.98 percent, to settle at 3.85 U.S. dollars per bushel. May wheat slid 9 cents, or 1.71 percent, to close at 5.1825 dollars per bushel. May soybeans added 3.75 cents, or 0.42 percent, to settle at 9.0725 dollars per bushel.
Soybeans edged higher on support from hopes of rising global demand for U.S. supplies after Argentina said it would boost taxes on soybean exports.
Argentina plans to raise taxes on soybean, soyoil and soymeal exports to 33 percent from the current 30 percent, the Agriculture Ministry said on Tuesday, as the government intended to increase revenue.
Gains in financial markets helped to set a positive tone after agricultural markets sagged last week on concerns about the global spread of coronavirus hurting economic growth, traders said.
CBOT wheat futures were pressured by technical selling and ample world supplies.
Corn futures edged higher as concerns about dry weather in Brazil stressing the recently planted corn crop provided support.
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