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Chicago agricultural commodities settle higher on hot weather forecast

Xinhua, July 19, 2016 Adjust font size:

Chicago Board of Trade (CBOT) corn, wheat and soybeans all rebounded on Monday to open the week.

The most active corn contract for December delivery gained 5 cents, or 1.40 percent, to 3.6325 dollars per bushel. September wheat delivery added 4.75 cents, or 1.12 percent, to 4.295 dollars per bushel. November soybean advanced 9 cents, or 0.85 percent, to 10.6625 dollars per bushel.

Corn and soybeans rebounded Monday as the new weather forecast on Monday favored hot and drier wetter weather this week again in some corn and soybean fields in U.S. Midwest, easing concerns of adverse weather may boost ample supplies, according to analysts.

Meanwhile, bargain buying after corn and soybean fell two successive trading days also helped them advance on Monday.

Wheat climbed along with corn and soybeans on Monday, while U.S. wheat also gained as European wheat prospects were tightened by analysts. Endit