Chicago Agriculture Commodities Traded Higher
$CORN, $WEAT, $SOYB
Chicago Board of Trade (CBOT) agriculture commodities finished higher Tuesday, with Wheat futures surging over 3%, mostly on reports that adverse weather has stunted the US hard-red winter Wheat crop.
The annual Kansas Wheat Tour kicked off in the morning showed that cold and dry weather had slowed the growth. Some reports from fields indicated that the crop was in fairly bad shape.
Corn futures went up as wet weather continued to keep producers from planting in parts of the US Midwest, while Soybean futures rose on investors’ technical buying.
The most active Corn contract for July delivery went up 5c, or 1.25% to close at 4.0575 bu.
July Wheat delivery added 18.75c, or 3.67% to close at 5.2925 bu.
July Soybean delivery rose 4.75c, or 0.45% to close at 10.5325 bu.
CBOT brokers reported that funds on Tuesday bought 7,000-10,000 contracts of Wheat, 10,000-12,000 contracts of Corn, and 3,000-4,000 contracts of Soybean.
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