Chicago Agriculture Commodities Traded Higher
$SOY, $WEAT, $CORN
Chicago Board of Trade (CBOT) agriculture commodities traded higher Wednesday morning, but the upward momentum boosted by declined crop ratings seemed weak.
As of 1459 GMT, the most active December Corn was up 1.5C at 3.6125 bu, and Soybean contract for November delivery rose 1.25c at 8.565, while September Wheat was up 0.75c at 5.13 bu.
The prices of CBOT Corn and Soybean futures have been rising in the past 2 sessions after crop ratings declined in the 7 days that ended Sunday, and decreasing world stocks pushed up Wheat prices.
Russian Wheat prices have risen to $206/tonnes on concern about a further decline in production, while warm and dry weather conditions will persist over much of western Europe, denting yield potential, said agriculture analysts.