Chicago Board of Trade (CBOT) grains closed higher on Wednesday with soybean futures rising on concerns about dry weather in Argentina.
Corn futures rose slightly on increasing export demand while wheat futures went up on short covering.
The most active corn contract for May delivery rose 0.5 cent, or 0.13 percent to close at 3.75 U.S. dollars per bushel. May wheat delivery went up 0.5 cent, or 0.11 percent to close at 4.535 dollars per bushel. May soybeans added 1.5 cents, or 0.15 percent to close at 10.2975 dollars per bushel.
The U.S. Department of Agriculture (USDA) late on Monday rated 11 percent of top winter wheat producer Kansas in good-to-excellent condition, down from 12 percent a week earlier. Wheat ratings also declined in Texas.
Analysts said Monday's crop rating showed a new degradation of wheat conditions in the United States, but it did not take into account the rains of the weekend. Thus, the crop rating of next week will be monitored closely.
Corn futures rose slightly on increasing export demand while wheat futures went up on short covering.
The most active corn contract for May delivery rose 0.5 cent, or 0.13 percent to close at 3.75 U.S. dollars per bushel. May wheat delivery went up 0.5 cent, or 0.11 percent to close at 4.535 dollars per bushel. May soybeans added 1.5 cents, or 0.15 percent to close at 10.2975 dollars per bushel.
The U.S. Department of Agriculture (USDA) late on Monday rated 11 percent of top winter wheat producer Kansas in good-to-excellent condition, down from 12 percent a week earlier. Wheat ratings also declined in Texas.
Analysts said Monday's crop rating showed a new degradation of wheat conditions in the United States, but it did not take into account the rains of the weekend. Thus, the crop rating of next week will be monitored closely.
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