Chicago agricultural commodities settle higher

CHICAGO, April 3 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural commodities closed higher on Tuesday, with wheat futures surging over two percent, led by a spike in hard red winter wheat prices.

Soybeans and corn rebounded from the prior session's declines on spillover support from wheat and as cold, wet weather in the central United States stoked concerns about spring planting delays.

The most active corn contract for May delivery rose 1.25 cents, or 0.32 percent at 3.885 dollars per bushel. May wheat delivery added 11.25 cents, or 2.52 percent to close at 4.575 dollars per bushel. May soybeans went up 2.5 cents, or 0.24 percent to settle at 10.38 dollars per bushel.

The U.S. Department of Agriculture late on Monday assessed only 32 percent of the U.S. winter wheat crop in good to excellent condition as of Sunday, down from 51 percent this time last year. It was the lowest rating for this point in the crop year since 2002.

CBOT brokers report that funds on Tuesday have brought 4,000 contracts of corn, 6,000 contracts of soybeans, and 4,000 contracts of wheat. Enditem