Soybean prices rose to a one-month high by an uptick in buying interest after USDA forecast a smaller increase in soybean acres this year, than market had anticipated. USDA's estimate for smaller-than-expected growth in domestic soybean stockpiles also prompted short-covering by investors. May soybeans rose 16 1/2 cents, or 1.7%, to $9.89 3/4 a bushel.
Corn prices gained, reviving after tumbling 4.6% in the previous session, on strength in nearby markets and declining rising prices for crude oil. Bargain buying by end-users taking advantage of lower prices to stock up on corn supplies also supported prices. May corn added 5 1/2 cents, or 1.5%, to $3.81 3/4 a bushel.