Chicago soybeans soar in morning trading
Xinhua,December 06, 2017 Adjust font size:
CHICAGO, Dec. 5 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural commodities opened mixed in morning trading on Tuesday with soybeans soaring double digit.
January soybeans went up 13.25 cents to reach 10.1175 U.S. dollars per bushel as of 1600 GMT, March corn was up 2.25 cents to 3.5575 dollars while March wheat was down 2.50 cents to 4.3275 dollars.
CBOT investors have been focused on global weather and demand since the end of the U.S. harvest.
La Nina, the direct opposite of El Nino, has been the main factor in pushing up soybeans and corn futures, as the weather pattern appears to be in full control of the South American.
It is expected to bring dryness to Argentina and southern Brazil, areas to grow soybeans and corn, in the next two or three weeks, which will not be conducive to the crops.
Soybeans got additional support from a report that inspections of U.S. soybeans for overseas delivery rose in the week that ended on Nov. 30. Enditem