Off the wire
• OSCEPA condemns Russian actions in absence of Russian representatives  • Foreign visitors to Albania increases in Q1 2015  • Roundup: Italian experts eye growing opportunities in Sino-EU relations  • U.S. Treasury chief urges European officials to help with restructuring Greek debt  • Opening of EU chapters for Serbia only a matter of moment: Merkel  • FARC announces new unilateral ceasefire  • Russian PM meets with Chinese vice premier, eyeing more cooperation with China  • Algeria orders army to restore calm in strife-ridden Ghardaia province  • 2nd LD Writethru: Xi calls for joint Chinese-Indian efforts in building stronger BRICS partnership  • Urgent: U.S. stocks slump amid Fed minutes, Greek uncertainty  
You are here: 　 Home

Chicago corn, soybean futures prices rebound on wet weather; wheat extends losses

Xinhua, July 9, 2015 Adjust font size:

Chicago Board of Trade (CBOT) corn, soybeans futures rebounded Wednesday because unexpected wet weather raised new concerns that rains may hurt production, while wheat extended losses on worsening export performance.

The most active corn contract for December delivery added 1.25 cents, or 0.29 percent, to close at 4.3425 U.S. dollars per bushel. September wheat delivery fell 7.75 cents, or 1.32 percent, to close at 5.775 dollars per bushel. November soybeans gained 2.5 cents, or 0.25 percent, to close at 9.8825 dollars per bushel.

Wet weather is again being discussed in some areas of U.S. Midwest, with more rainfall for Thursday and Friday, and CBOT floor trading brokers reported that funds are net buyers of 6,500 contracts of corn and 3,400 contracts of soybeans before midday, according to AgResource, a Chicago-based agricultural commodity research firm.

Analysts said that the rains renewed concerns that excessive rainfall may hurt production of corn and soybean, which was supportive to corn and soybean.

Wheat was pressed from worsening export performance, especially when there were news on the market that Egypt, the top buyer of wheat in the world, bought 180,000 metric tonnes of Russian and Ukrainian wheat, analysts said. Endite