Chicago Board of Trade (CBOT) agricultural commodities closed higher on Tuesday with wheat rallying amid world weather concern and technical buying.
The most active corn contract for July delivery rose 2 cents, or 0.5 percent to settle at 4.0475 dollars per bushel. July wheat delivery went up 14.25 cents, or 2.81 percent to close at 5.215 dollars per bushel. July soybeans were up 5.25 cents, or 0.51 percent to settle at 10.305 dollars per bushel.
CBOT brokers reported that funds bought 6,700 contracts of wheat, 5,300 contracts of corn and 2,500 contracts of soybeans.
Wheat futures were sharply higher on threatening dryness in Canada, Australia and the Black Sea, all key wheat producing areas. Technical buying following a sharp price fall in the previous session also boosted the wheat futures.
Meanwhile, CBOT soybeans continued to rise after the United States and China vowed not to launch a trade war against each other.
The most active corn contract for July delivery rose 2 cents, or 0.5 percent to settle at 4.0475 dollars per bushel. July wheat delivery went up 14.25 cents, or 2.81 percent to close at 5.215 dollars per bushel. July soybeans were up 5.25 cents, or 0.51 percent to settle at 10.305 dollars per bushel.
CBOT brokers reported that funds bought 6,700 contracts of wheat, 5,300 contracts of corn and 2,500 contracts of soybeans.
Wheat futures were sharply higher on threatening dryness in Canada, Australia and the Black Sea, all key wheat producing areas. Technical buying following a sharp price fall in the previous session also boosted the wheat futures.
Meanwhile, CBOT soybeans continued to rise after the United States and China vowed not to launch a trade war against each other.
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