CBOT soybeans rise for fourth consecutive session

CHICAGO, May 23 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural commodities closed higher on Wednesday with the hope that China will import more U.S. agricultural products.

The most active corn contract for July delivery rose 3.75 cents, or 0.93 percent to settle at 4.085 dollars per bushel. July wheat delivery went up 9.5 cents, or 1.82 percent to close at 5.31 dollars per bushel. July soybeans were up 8.75 cents, or 0.85 percent to settle at 10.3925 dollars per bushel.

CBOT soybean prices have surged more than 40 cents after the United States and China vowed last Saturday not to launch a trade war against each other.

Both countries have pledged to meaningfully increase U.S. agricultural products exports to China, which is top buyer of U.S. soybeans.

Meanwhile, the recent rainfall in the U.S. Midwest have further delayed the planting of corn, pushing its futures higher.

Wheat prices also climbed sharply on threatening dryness in Canada, Australia and the Black Sea, all key wheat producing areas. Enditem