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CBOT futures close higher over weather concerns

Xinhua,February 16, 2018 Adjust font size:

CHICAGO, Feb. 15 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural commodities closed higher on Thursday over weather concerns in north and south America.

The most active corn contract for March delivery edged up 0.5 cent, or 0.14 percent to settle at 3.6775 dollars per bushel. March wheat delivery went up 6 cents, or 1.32 percent to close at 4.6175 dollars per bushel. March soybeans rose 7 cents, or 0.69 percent to settle at 10.2425 dollars per bushel.

Concerns that Argentine soybeans will suffer yield decrease due to deepening drought pushed up prices again. The soybean futures have post gains for four days in a row and reached new high since last July.

In the southern U.S. plains, where hard-red winter wheat is grown, little rain has fallen in the past four months, with little rain in the forecast.

According to U.S. Department of Agriculture, for the week ending February 8, U.S. exporters sold 78 million bushel of corn, 11 million bushel of wheat and 24 million bushel of soybeans. All were generally in line with trade guesses. Enditem

 

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