Markets > Futures

CBOT corn, soybeans rise on planting delays

2019-06-05 05:08

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CHICAGO, June 4 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural futures settled mixed on Tuesday, with corn and soybeans rising on wet weather delayed planting.

The most active corn contract for July delivery was up 1 cent, or 0.24 percent to 4.2525 U.S. dollars per bushel. July soybeans were up 2.75 cents, or 0.31 percent, to 8.8175 dollars per bushel. July wheat was down 12.5 cents, or 2.41 percent to 5.0725 dollars per bushel.

According to the latest crop progress report released by the U.S. Department of Agriculture on Monday, only 39 percent of soybeans were seeded as of June 2, well behind the 2014-18 average of 79 percent.

Meanwhile, 67 percent of soybeans were planted, compared to an average of 96 percent in the past five years.

The delays were mainly due to spring storms that hit the U.S. Midwest.
Rains and floods also impacted southern U.S. plains recently, possibly damaging some wheat crops there. As a result, CBOT wheat futures climbed more than 3 percent in the previous session.

On Tuesday, profit hunting dragged down wheat prices, said market watchers. Enditem
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