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Chicago soybean futures rise on adverse weather

2019-01-25 08:54

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Chicago Board of Trade (CBOT) soybean futures closed higher on Thursday, as traders weighed persistent hot, dry weather in Brazil amid concerns about trade talks between the United States and China.

The most active corn contract for March delivery went down 1.75 cents, or 0.46 percent, to close at 3.77 U.S. dollars per bushel. March wheat delivery fell 4.5 cents, or 0.86 percent to close at 5.215 dollars per bushel. March soybean delivery was up 1 cent, or 0.11 percent, to close at 9.16 dollars per bushel.

CBOT soybean futures firmed on hot, dry weather in Brazil, which will curb the size of harvest in the world's key soybean exporter.

CBOT wheat futures fell on mild profit-taking, after they rose for five straight sessions. Corn futures ended lower due to lack of market-moving news.

As for weather forecast for agricultural crop, a blizzard warning was in effect through Thursday morning for parts of western Minnesota, according to the National Weather Service.
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