Off the wire
• Lebanon nixes Syrian refugees' return from Uruguay  • 1st LD: U.S. Senate Democrats block resolution against Iran nuclear deal  • Roundup: Canadian stock market edges higher over resources lift  • Britain's Cameron meets Israeli Premier over cooperation  • World champion Schippers aims at sprint double in Rio  • Replacement of Finland's top defence planner raises questions among regional observers  • Chinese companies embrace Olympic opportunity  • World food prices fall dramatically in August, continuing 17-month trend  • Russian taxi drivers facing visa restrictions from Norway amid Syrian refugee crisis  • 1st LD Writethru: Obama orders preparations to accept 10,000 Syrian refugees in next fiscal year  
You are here: 　 Home

Chicago corn, wheat, soybeans higher on expectations of lower harvest estimates

Xinhua, September 11, 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 rose 5.25 cents, or 1.42 percent, to 3.7425 U.S. dollars per bushel. December wheat advanced 5.75 cents, or 1.22 percent, to 4.78 dollars per bushel. November soybeans added 1.75 cents, or 0.20 percent, to 8.74 dollars per bushel.

An official report showed rising demand for fuel ethanol, made mainly from corn in the United States, giving some support for corn.

U.S. ethanol stocks were down 360,000 barrels from previous week to 18.64 million barrels till the week ending Sept. 4. Meanwhile, output rose 10,000 barrels a day from last week to 958,000 barrels a day, according to the weekly Ethanol Plant Production Report released Thursday.

Meanwhile, corn extended gains Thursday as investors expect the United States Department of Agriculture (USDA) to trim its production forecast in a monthly report due out Friday, analysts said.

Soybeans also rebounded on expectations that USDA would cut its harvest estimates amid unfavorable weather in August.

Driven by higher corn and soybeans plus a lower dollar, wheat also advanced Thursday. Endit