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Chicago agricultural commodities close higher

Xinhua, June 7, 2016 Adjust font size:

Chicago Board of Trade (CBOT) corn, wheat settled higher for their fourth trading days in a row on Monday, while soybeans also rebounded.

The most active corn contract for July delivery added 9 cents, or 2.15 percent, to close at 4.2725 dollars per bushel. July wheat delivery gained 10.25 cents, or 2.06 percent, to settle at 5.075 dollars per bushel. July soybeans climbed 6.25 cents, or 0.55 percent, to close at 11.3825 dollars per bushel.

Analysts noted that corn and soybeans extended gains as latest weather forecast showed hotter and drier weather in the U.S. Southern Plains and Midwest in the coming six days.

Fresh export news also helped soybeans on Monday as the U.S. Department and Agriculture (USDA) said in the morning that private exporters reported export sales of 125,000 metric tons of soybeans for delivery to unknown destinations during the 2016/2017 marketing year.

Additionally, the weaker U.S. Dollar also supported the U.S. Agricultural products, according to analysts. Endit