Chicago Agriculture Commodities Finished Higher
$CORN, $WEAT, $SOYB
Chicago Board of Trade (CBOT) agriculture commodities finished higher Tuesday, with Wheat futures surging over 2%, led by a spike in hard red winter Wheat prices.
Soybean and Corn rebounded from the prior session’s declines on spillover support from Wheat and as cold, wet weather in the central United States stoked concerns about Spring planting delays.
The most active Corn contract for May delivery rose 1.25c, or 0.32% at 3.885 bu.
May Wheat delivery added 11.25c, or 2.52% to close at 4.575 bu.
May Soybean went up 2.5c, or 0.24% to settle at 10.38 bu.
The US Department of Agriculture (USDA) late Monday assessed only 32% of the US winter Wheat crop in good to excellent condition as of Sunday, down from 51% this time last year. It was the lowest rating for this point in the crop year since Y 2002.
CBOT brokers report that funds Tuesday brought 4,000 contracts of Corn, 6,000 contracts of Soybean, and 4,000 contracts of Wheat