Chicago agricultural commodities edge higher in early trading

0 Comment(s)Print E-mail Xinhua, November 18, 2017
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CHICAGO, Nov. 17 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural commodities opened higher Friday, mostly on short-covering and concern for world weather.

January soybeans were up 3 cents at 9.75 U.S. dollars per bushel as of 1430 GMT in the morning trading, December corn was up 1.25 cents at 3.3775 dollars, while December wheat was up 2.75 cents at 4.2425 dollars.

The volume of trade was active in corn while being meager in soybeans and wheat. Data shows investors bought over 26,000 contracts of December corn futures, over 7,000 contracts of January soybeans and just over 4,000 contracts of December wheat as of 1430 GMT.

As for international markets, limited rain is expected across Argentina in the next 2 weeks while Brazilian crops will enjoy regular rains. The Argentine dryness worry is deepening with a trend of below normal expected into early December with intermittent heat.

More heavy rains are slated to drop across New South Wales, Victoria and Southern Australia that could damage their mature winter wheat crop. Enditem

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