U.S. soybeans fell for a second session on Monday to a more than six-and-a-half year low, hurt by an improved production outlook in South America and the election of a new president in Argentina who has promised to cut export taxes.
* Chicago Board Of Trade front month soybeans were trading down 0.5 percent at $8.53-1/2 a bushel at 0150 GMT, near the session low of $8.50-3/4 a bushel, a 6-1/2-year low. Soybeans closed down 0.3 percent on Friday.
* December corn fell 0.1 percent to $3.63 a bushel, having closed down 0.3 percent in the previous session.
* December wheat rose 0.5 percent to $4.92-1/4 a bushel, after closing down by a similar amount on Friday.
* Wheat under pressure as weather outlook for key growing regions in the U.S. Plains and Midwest improves.
* A turn to wetter weather in South America removed concerns about dry soils that farmers encountered early in the planting process.
* Soybeans under some pressure after conservative opposition candidate Mauricio Macri won Argentinaâ€™s presidential election on Sunday, with the newly elected president promising to cut export taxes from one of the worldâ€™s largest exporters of oilseeds.
* The euro languished near a seven-month low against the dollar on Monday, weighed down by expectations that the European Central Bank will ramp up its monetary stimulus next month.
* Crude oil futures lost ground on Monday in early Asian trading, as the global supply surplus pressured prices, but a cut in the number of U.S. oil rigs for an 11th week in the last 12 limited the falls.