Chicago Agriculture Commodities Finished Mixed
$CORN, $WEAT, $SOYB
Chicago Board of Trade (CBOT) agriculture grains futures finished higher Wednesday with the Soybean reversing a 5-day down-turn.
The most active Corn contract for May delivery rose 1.75 cents, or 0.48%, to 3.6475 bu.
May Wheat delivery went up 2.75 cents, or 0.64% to 4.2975 bu.
May Soybean up 6.5 cents, or 0.69%, to 9.4425 bu.
Heavy rains in Argentina in recent days have reportedly triggered concerns about the Soybean harvest there. Some agriculture analysts also contributed the rise of Soybean futures to short covering.
The Soybean futures had hit the lowest level in almost a year before Wednesday’s bounce.
Corn and Wheat were also buoyed by the rebounding Soybean.
But the rise of Corn futures was capped by the news that the US consumed less corn for the production of Ethanol last week, probably because several plants reduced operations for seasonal maintenance.