* Markets lifted by positive reports of President Trump’s health
* USDA crop progress report due later on Monday
* U.S. harvest report awaited (Recasts with European trade, adds quotes, changes dateline)
HAMBURG, Oct 5 (Reuters) - Chicago wheat rose on Monday, supported by dry conditions during Russian winter wheat sowing, with markets underpinned by crude oil’s recovery after more positive reports about the health of U.S. President Donald Trump.
Soybeans slipped and corn was little changed ahead of a U.S. Department of Agriculture (USDA) crop progress report later on Monday, which is expected to show good harvest progress by U.S. farmers.
The Chicago Board of Trade’s most active wheat contract rose 1.4% to $5.81-1/4 a bushel by 1043 GMT. Corn was unchanged at $3.79-3/4 a bushel and soybeans dipped 0.1% to $10.19-1/2 a bushel.
Oil rose about 3% on Monday, partly on reports that President Trump could soon be discharged from coronavirus treatment in hospital.
“Wheat, corn and soybeans are being supported by the more positive reports about the state of President Trump’s health, which is supporting crude oil, while the dollar is also trending weaker,” said Matt Ammermann, StoneX commodity risk manager.
“Dryness in some parts of central Russia is also underpinning as winter wheat sowings are under way and could suffer, threatening Russian export supplies. The Russian picture could change quickly if rain comes, but the market is currently factoring in the dryness risk.”
The USDA weekly report due later on Monday is expected to show U.S. farmers are harvesting corn and soybeans in near perfect weather.
“The U.S. harvest is progressing well as the weather has been pretty good,” said National Australia Bank’s Phin Ziebell.
The soybean market is also focused on dry conditions in Brazil, StoneX’s Ammermann said.
“But overall, U.S. weather for both soybean and corn harvests is looking favourable,” he said, adding that Chinese holidays could serve to restrain import purchases. (Reporting by Michael Hogan Additional reporting by Naveen Thukral Editing by David Goodman)
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