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CBOT futures open higher over weather conditions

Xinhua,February 27, 2018 Adjust font size:

CHICAGO, Feb. 26 (Xinhua) -- Chicago Board of Trade (CBOT) futures opened higher on Monday morning as dry weather conditions continued to prevail in Argentina and U.S. southern plains.

As of 1550 GMT, March corn was up 2.75 cents at 3.69 U.S. dollars per bushel, while March wheat was up 8.5 cents at 4.6075 dollars and March soybeans up 7.5 cents at 10.4375 dollars per bushel.

According to weather forecast, February rainfall across the major grain areas of Argentina will probably be the lowest in 38 years. The deepening drought has continued to push the CBOT soybean and corn prices higher.

Meanwhile, many parts of the U.S. states of Kansas and Texas are still suffering from dry weather, which has boosted CBOT wheat futures. Enditem

 

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