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Chicago agricultural commodities close higher

Xinhua, April 30, 2016 Adjust font size:

Chicago Board of Trade (CBOT) corn, wheat and soybeans all settled higher on Friday to close the week and month of April.

The most active corn contract for July delivery added 0.5 cents, or 0.13 percent, to close at 3.9175 dollars per bushel. July wheat delivery rose 3 cents, or 0.62 percent, to close at 4.885 dollars per bushel. July soybeans gained 2.25 cents, or 0.22 percent, to close at 10.2975 dollars per bushel.

Based on the most active contract month, all three Chicago major agricultural commodities advanced for the week and for April. For the week, corn, wheat and soybeans advanced 4.33 percent, 3.06 percent, and 3.36 percent respectively; while for the month of April, corn, wheat and soybeans gained 11.45 percent, 3.17 percent and 13.07 percent respectively.

The U.S. Department of Agriculture said Friday morning that private exporters reported export sales of 100,640 tons of corn for delivery to Japan during the 2015/2016 marketing year, analysts noted that corn extended a little gains Friday on this fresh export news.

While soybeans and wheat was supported by the larger-than-expected deliveries. CME group reported 527 first-day deliveries of soybean contract against May on Thursday evening, while wheat deliveries was rated at 1,680 contracts, both of the numbers were at the high end of expectations.

Additionally, technical support also prompted corn, wheat and soybeans close higher on Friday. CBOT floor brokers estimated that funds have bought 3,000 contracts of corn, 2,100 contracts of wheat and 2,400 contracts of soybeans till midday, said AgResource, a Chicago-based agriculture consultancy, in its daily commentary. Endit