Chicago agricultural commodities open higher
Xinhua,December 02, 2017 Adjust font size:
CHICAGO, Dec. 1 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural commodities opened higher in morning trading on Friday amid concerns about dry weather in Argentina.
January soybeans were up 9 cents at 9.9475 U.S. dollars per bushel as of 1500 GMT in the morning trading, March corn was up 2.75 cents at 3.585 dollars, while March wheat was up 1 cent at 4.34 dollars.
Wheat futures rose after Saudi Arabia issued a tender for almost 500,000 tonnes of milling wheat on Thursday.
The Argentine and South Brazilian forecast is drier and warmer than yesterday while extreme variable temperatures and dry weather dominates the plains.
With a secondary seasonal low posted this week and funds heavily short, the adverse weather trend could spark a December rally as fund managers close out short positions heading into a New Year. Enditem