Chicago Board of Trade (CBOT) agricultural commodities traded higher on Thursday morning, with wheat futures jumping 10 cents on worries that adverse weather will lead to crop shortfalls in key growing areas around the world.
July corn was 2.5 cents higher at 4.0175 U.S. dollars per bushel as of 1530 GMT, July wheat was 10 cents higher at 5.0425 dollars, July soybean was up 6.5 cents at 10.065 dollars.
Much of the U.S. southern Plains is suffering from either an extreme or exceptional drought, the worst possible ratings, according to the U.S. Drought Monitor.
As for international market, showers are slated to fall across the winter corn areas of South America through the weekend. Black Sea winter wheat areas will receive near normal rain over the next 10 days with dryness deepening a drought across Australia. The possibility of rainfall in Canada diminished in Thursday's forecast.
July corn was 2.5 cents higher at 4.0175 U.S. dollars per bushel as of 1530 GMT, July wheat was 10 cents higher at 5.0425 dollars, July soybean was up 6.5 cents at 10.065 dollars.
Much of the U.S. southern Plains is suffering from either an extreme or exceptional drought, the worst possible ratings, according to the U.S. Drought Monitor.
As for international market, showers are slated to fall across the winter corn areas of South America through the weekend. Black Sea winter wheat areas will receive near normal rain over the next 10 days with dryness deepening a drought across Australia. The possibility of rainfall in Canada diminished in Thursday's forecast.
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