Chicago Agriculture Commodities Finished Higher
$CORN, $WEAT, $SOYB
Chicago Board of Trade (CBOT) agriculture commodities finished higher Tuesday, with Soybean futures rising more than 1.7% on concerns about dry weather hurting crop prospects in Argentina, despite rains expected in the weekend.
Corn rose on the weather worries and on improving export demand for US supplies, and wheat followed the firm trend.
The most active Corn contract for March delivery rose 4.75c, or 1.32% to close at 3.635 bu.
March Wheat delivery went up 6c, or 1.36% to close at 4.4625 bu.
March Soybean added 16.5c, or 1.7% to close at 9.8625 bu.
CBOT brokers report that funds have bought 3,700 contracts of Soybean, 6,500 contracts of Corn, and 3,200 contracts of Wheat. In Soy products, funds have bought 3,800 contracts of Soymeal and 1,700 contracts of Soybean Oil.