Chicago Board of Trade (CBOT) soybean and corn futures closed higher on Friday over weather concerns in the U.S. Midwest and Brazil.
The most active corn contract for December delivery rose 0.5 cent, or 0.14 percent, to 3.50 dollars per bushel. December wheat delivery went up 2.75 cents, or 0.62 percent, to 4.435 dollars per bushel. November soybeans climbed 4 cents, or 0.41 percent, to 9.7225 dollars per bushel.
Again, CBOT soybean and corn futures posted gains due to harvest delays caused by rains in the Midwest. Above-normal temperatures and dryness in Brazil also supported their prices.
Recent yield reports have shown soybean data well below that of previous two years, especially in parts of the upper Midwest.
CBOT wheat, which had suffered losses in the past two session, rebounded on Friday amid bargain buying.
Analysts with AgResoure Company said the recent rally in EU and Black Sea wheat prices did not materially affect world demand, adding that seasonal trends in Black Sea grain prices might be higher into November and December. Enditem
The most active corn contract for December delivery rose 0.5 cent, or 0.14 percent, to 3.50 dollars per bushel. December wheat delivery went up 2.75 cents, or 0.62 percent, to 4.435 dollars per bushel. November soybeans climbed 4 cents, or 0.41 percent, to 9.7225 dollars per bushel.
Again, CBOT soybean and corn futures posted gains due to harvest delays caused by rains in the Midwest. Above-normal temperatures and dryness in Brazil also supported their prices.
Recent yield reports have shown soybean data well below that of previous two years, especially in parts of the upper Midwest.
CBOT wheat, which had suffered losses in the past two session, rebounded on Friday amid bargain buying.
Analysts with AgResoure Company said the recent rally in EU and Black Sea wheat prices did not materially affect world demand, adding that seasonal trends in Black Sea grain prices might be higher into November and December. Enditem
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