Chicago Agriculture Commodities Finished Higher Friday
$CORN, $WEAT, $SOYB
Chicago Board of Trade (CBOT) agriculture commodities finished higher Friday on massive fund buying.
The most active Corn contract for July delivery rose 3.25c, or 0.82% to settle at 3.985 bu.
July Wheat delivery went up 9c, or 1.84% to close at 4.985 bu.
July Soybean were up 16.75c , or 1.61% to settle at 10.5625 bu.
CBOT Corn, Wheat and Soybean futures soared to sharp gains on massive fund buying, reported floor traders.
The US Department of Agriculture (USDA) Thursday released its weekly export sales report, showing that Wheat beat traders’ expectations with total export volume at 297,200 tonnes, up noticeably from both the prior week and average. The latest data drove up Wheat prices.
Increasing demand for US Soybean and Soymeal from Argentina, where Soy corps suffered from severe dryness this year, boosted CBOT Soybean prices.
Expectations among farmers and traders that high-ranking US officials could make a deal next week in Beijing to avoid trade war with China also underpinned Soybean futures
Have a terrific week