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Chicago Agricultural Commodities Close Higher-July 20
 

Chicago Board of Trade (CBOT) grains futures closed higher on Thursday, mainly boosted by dry weather model and strong export data.

The most active corn contract for December delivery rose 8.5 U.S. cents, or 2.15 percent, to 4.0475 dollars per bushel. September wheat delivery went up 2.75 cent, or 0.55 percent, to 5.0575 dollars per bushel. November soybeans climbed 14.5 cents, or 1.43 percent, to 10.27 dollars per bushel.

CBOT brokers estimated that funds have bought 10,000 contracts of corn, 7,000 contracts of soybeans, while being flat in wheat.

Traders reportedly continued to build premium in the grain markets with hot and dry weather, which has kept its influence over the northern Plains and Midwestern Corn Belt.

This weather model has caused the dropping of current crop ratings and led to worries about possible lower yields.

The futures, especially those of corn and soybean, were also supported by the strong performance of exports, according to the Weekly Export Sales Report released by the U.S. Department of Agriculture on Thursday.

Following six consecutive days of losses, the wheat futures managed to rally due to bargain buying, said analysts.


(www.chinaview.cn 2017-07-21)
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