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Chicago agricultural commodities close higher

Xinhua, May 7, 2016 Adjust font size:

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

The most active corn contract for July delivery rose 3.75 cents, or 1.00 percent, to close at 3.775 dollars per bushel. July wheat delivery added 0.50 cents, or 0.11 percent, to close at 4.6375 dollars per bushel. July soybeans advanced 22.50 cents, or 2.22 percent, to close at 10.3475 dollars per bushel.

For the week, corn, wheat declined 3.64 percent, 5.07 percent respectively, while soybeans gained 0.49 percent.

The market was quiet Friday, some analysts said that U.S. corn, wheat and soybeans rebounded on short covering after their big losses of Thursday.

For the corn, the U.S. Department of Agriculture said Friday morning in its daily sale report that private exporters reported export sales of 132,000 tons of corn for delivery to Israel during the 2015/2016 marketing year.

Analysts noted that this data also helped corn go higher Friday as it showed new overseas demand for U.S. corn. Endit