Chicago Agriculture Commodities Traded Higher
$CORN, $WEAT, $SOYB
Chicago Board of Trade (CBOT) agriculture commodities traded higher Tuesday morning with deepening drought in Argentina driving up Soybean prices again.
As of 1550 GMT, May Corn was up 3 cents at 3.775 bu, while May Wheat was up 5 cents at 4.7775 bu, and May Soybean up 6.25 cents at 10.5225 bu.
Profit-taking during the previous session had briefly reversed the upturn of Soybeans on deepening drought in Argentina, where February rainfalls are set to be the lowest in almost 40 years.
Tuesday morning, Soybean futures were higher over concerns on South American crop yields due to the weather issues.