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Chicago agricultural commodities settle higher

Xinhua,February 07, 2018 Adjust font size:

CHICAGO, Feb. 6 (Xinhua)-- Chicago Board of Trade (CBOT) grains closed higher Tuesday, with soybeans futures rising more than 1.7 percent on worries about dry weather hurting crop prospects in Argentina, despite rains expected in the weekend.

Corn rose on the weather worries and on improving export demand for U.S. supplies, and wheat followed the firm trend.

The most active corn contract for March delivery rose 4.75 cents, or 1.32 percent to close at 3.635 dollars per bushel. March wheat delivery went up 6 cents, or 1.36 percent to close at 4.4625 dollars per bushel. March soybeans added 16.5 cents, or 1.7 percent to close at 9.8625 dollars per bushel.

CBOT brokers report that funds have bought 3,700 contracts of soybeans, 6,500 contracts of corn, and 3,200 contracts of wheat. In soy products, funds have bought 3,800 contracts of soymeal and 1,700 contracts of soyoil. Enditem

 

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