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CBOT soybean futures surge in morning trade

Xinhua,February 21, 2018 Adjust font size:

CHICAGO, Feb. 20 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural commodities traded mixed on Tuesday morning, with soybean futures rising over 10 cents as market worried about hot and dry weather in Argentina.

Most agricultural futures are higher in decent volume, led by the soy complex, amid the lack of any pattern change in both South American and the U.S. through the first half of March.

It does seem likely that La Nina begins to fade in April, but the entirety of Argentina's growing season, and much of the U.S. winter wheat season, will be dominated by ongoing dryness.

March corn were up 1.25 cents at 3.6875 U.S. dollars per bushel as of 1600 GMT, March wheat was three cents lower at 4.5475 dollars, and March soybeans was 13.75 cents higher at 10.3525 dollars. Enditem

 

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