Chicago agricultural commodities open higher
Xinhua,December 05, 2017 Adjust font size:
CHICAGO, Dec. 4 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural commodities opened higher in morning trading on Monday amid concerns about dry weather in South America.
January soybeans were up 8.50 cents at 10.0275 U.S. dollars per bushel, March corn was up 0.50 cent at 3.5925 dollars while March wheat was up 2.50 cents at 4.41 dollars.
The volume of trade in soybeans has been reportedly active with more than 42,000 contracts of January delivery changing hands.
La Nina, the direct opposite of El Nino, occurs when sea surface temperatures in the central Pacific Ocean drop to lower-than-normal levels.
This weather pattern appears to be in full control of the South American, bringing dryness to Argentina and southern Brazil in the next two or three weeks, which will not be conducive to the growth of crops. Enditem