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CBOT corn, soybean futures higher on export report

2019-07-09 05:24

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CHICAGO, July 8 (Xinhua) -- Chicago Board of Trade (CBOT) corn and soybean futures posted moderate gains on Monday over relatively better weekly export performance.

The most active corn contract for December delivery was up 1.5 cents, or 0.34 percent at 4.4375 U.S. dollars per bushel. September wheat was down 4 cents, or 0.78 percent to 5.11 dollars per bushel. November soybeans were up 3.25 cents, or 0.36 percent to 8.9775 dollars per bushel.

The U.S. Department of Agriculture (USDA) released its latest export inspection report for the week ending July 4, showing 703,192 metric tons of corn was inspected or weighed for export, much higher than 284,923 metric tons during the previous week.

Meanwhile, inspected soybeans for export totaled 757,903 metric tons, compared to 720,842 metric tons in the week ending June 27 and 668,014 metric tons the same period last year.

The export inspection data, along with hot and dry weather forecasts for U.S. Midwest, supported CBOT corn and soybean futures, said market analysts.

The same USDA report put inspected wheat volume at 609,456 metric tons, lower than previous week's 696,142 metric tons. Accelerating harvest also pressured the Chicago wheat prices. Enditem

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