GRAINS-Soya climbs to its highest in six years following wage strike in Argentina and the weather

* The cereal complex rebounds after taking a step back on the news of a new strain of coronavirus

* Soybeans hit new highs due to South American drought and worker strikes (refresh closing prices)

CHICAGO, Dec.21 (Reuters) – U.S. soybeans hit six-year highs on Monday, as weather and export issues in Argentina outweighed fears of a new strain of coronavirus hitting Britain.

Corn and wheat futures traded almost even as soybeans supported the grain complex.

The Chicago Board of Trade’s most active soybeans gained 23-1 / 2 cents at $ 12.47-1 / 2 a bushel, after hitting $ 12.48-3 / 4 a bushel, its highest level since June 27, 2014.

Wheat added 3 cents at $ 6.11-1 / 4 a bushel, while corn gained 2-1 / 2 cents at $ 4.40 a bushel, after hitting $ 4.40-3 / 4 a bushel. bushel, its highest level since July 18, 2019.

More than 100 freighters were prevented from loading agricultural products in Argentina on Monday as the wage strike continued.

In addition, persistent drought is preventing soybean plantings in Argentina, as concerns grow over global soybean supplies next year.

Inspections of soybean exports exceeded 2.5 million tonnes for the week ending Dec. 17, up 3.1% from the previous week, according to the US Department of Agriculture.

“With the weather in both South America, Argentina and Brazil, and the situation here, I think we have some chances for some decent moves,” said Jack Scoville, market analyst at Price Futures Group. “(The demand) is still sufficient to keep us in a very tight ending inventory scenario.”

Wheat edged up, with tighter exports from Russia supporting demand for wheat from the United States and other world producers, including Ukraine, where export prices firmed following the announcement of the Russian export tax.

Ukraine has vowed that it will not impose similar export restrictions.

Wheat exports climbed to 391,219 tonnes, up 49% from the previous week, according to the USDA.

Corn was pressured by the rains in Brazil, bolstering drought-stricken crops, competing with US exports despite lower export sales from the previous week.

“Weekly corn exports will remain relatively decent. Does that mean every week has to be good? No, ”said Tom Fritz, commodities broker at EFG Group. (Reporting by Christopher Walljasper in Chicago; Additional reporting by Michael Hogan and Colin Packham; Editing by Dan Grebler and Peter Cooney)