CBOT wheat surges as cold weather hits U.S. plains

CHICAGO, April 9 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural commodities closed higher on Monday with wheat prices rising almost 4 percent amid cold and snowy weather hit the U.S. plains.

The most active corn contract for May delivery rose 2.25 cents, or 0.58 percent at 3.9075 dollars per bushel. May wheat delivery went up 18.5 cents, or 3.92 percent to close at 4.9075 dollars per bushel. May soybeans gained 13.25 cents, or 1.28 percent to settle at 10.47 dollars per bushel.

Wheat futures surged over concerns that unusually cold weather in the southern plains and eastern Midwest hurt or would harm winter wheat.

Temperatures last week fell well below zero degree Celsius in some areas during overnight hours and snow fell in a large area in the Midwest on Monday.

As for CBOT soybeans, news of latest export sales boosted the prices.

Last Friday, The U.S. Department of Agriculture (USDA) said 458,000 metric tons of soybeans were sold to unknown destination, with more than two-thirds were for delivery in the current marketing year that ends on August 31.

On Monday, the USDA reported another export sale of 232,500 metric tons of U.S. soybeans.

Meanwhile, President Donald Trump and other U.S. officials, under increasing pressures from farmers, tried to assure soy growers that they would be protected amid high tensions with China on trade issues. But they did not elaborate how. Enditem