Unfavorable weather conditions push CBOT futures up

CHICAGO, Jan. 29 (Xinhua) -- Chicago Board of Trade (CBOT) grains closed higher on Monday amid weather woes both in South and North America.

The most active corn contract for March delivery rose 2.25 cents, or 0.63 percent to settle at 3.5875 dollars per bushel. March wheat delivery went up 8.25 cents, or 1.87 percent to close at 4.4925 dollars per bushel. March soybeans climbed 6 cents, or 0.61 percent to settle at 9.915 dollars per bushel.

A too dry Argentina and a too wet Brazil led to concerns among CBOT traders.

Rainfall has been persistent in Brazil, which will probably result in poor crop quality and harvest delays. The wetter weather pattern can slow the soybean harvest there and delay corn planting as well.

Meanwhile, dryness has prevailed in Argentina for some time. Drought is affecting many regions that grow corn and soybeans.

Back at home, limited rain chances in the U.S. plains over the next two weeks will also influence the winter wheat negatively. Analysts are concerned that further deterioration in wheat conditions is expected in a monthly crop ratings to be released later this week. Enditem