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Chicago agricultural commodities higher across board

Xinhua, August 21, 2015 Adjust font size:

The Chicago Board of Trade (CBOT) corn, wheat and soybeans all settled higher on Thursday.

The most active corn contract for December delivery gained 4 cents, or 1.06 percent, to close at 3.825 U.S. dollars per bushel. December wheat delivery added 11.25 cents, or 2.25 percent, to close at 5.1125 dollars per bushel. November soybeans rose 13.75 cents, or 1.54

ercent, to close at 9.0725 dollars per bushel.

Analysts said corn extended gains as the United States Department of Agriculture (USDA) reported a booming export sales in its weekly export report released Thursday.

The report also showed net sales of 282,700 million tons for delivery in 2014/2015 in the week ending Aug. 13, up noticeably from previous week and 84 percent from the prior 4-week average. While the Pro Farmer Midwest Crop tour released a press release on Wednesday, showing U.S. corn yields would ease this year.

The soybean futures rebounded from more than 5 year lows on Thursday on short-covering, according to analysts.

Wheat continued to advance because of a weaker dollar, analysts said, adding that wheat also found some support from the rally of corn on Thursday.

The USDA report indicated wheat net sales of 314,400 metric tons, down 25 percent from the previous week and 49 percent from the prior 4-week average; soybean net sales were 46,400 metric tons, down 52 percent from the previous week but up 27 percent from the prior 4-week average. Endit