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CBOT wheat futures higher on limited rainfall

Xinhua,April 24, 2018 Adjust font size:

CHICAGO, April 23 (Xinhua) -- Chicago Board of Trade (CBOT) futures traded mixed on Monday morning with wheat prices rising slightly on disappointing rainfall in the southern U.S. plains.

As of 1457 GMT, July corn was up 1.25 cents at 3.8675 U.S. dollars per bushel while July wheat was up 0.75 cent at 4.78 dollars and July soybeans down 4.75 cents at 10.355 dollars per bushel.

CBOT wheat was higher after limited rain fell in the southern plains later last week.

Despite forecasts for up to two inches (about 5 centimeters) of rainfall in some areas, only patchy rains fell, which could not offer widespread relief.

Meanwhile, the rising temperatures for the U.S. Midwest could produce an active start of spring planting, which seems more bearish for soybeans, already under the threat of trade tensions between the United States and China. Enditem