Chicago soybean futures rise on Brazil weather
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E-mail Xinhua, January 24, 2019
Chicago Board of Trade (CBOT) soybean futures closed higher on Wednesday, as traders worried that dryness weather in Brazil would limit the size of harvest in the world's key soybean exporter.
The most active corn contract for March delivery went down 0.25 cent, or 0.07 percent to close at 3.7875 dollars per bushel. March wheat delivery added 4.75 cents, or 0.91 percent to close at 5.26 dollars per bushel. March soybean delivery was up 5.75 cents, or 0.63 percent to close at 9.15 dollars per bushel.
Forecasters have been scaling back estimates for Brazil's soybean harvest due to drought. Hot weather this week was expected to keep some regions dry.
CBOT wheat futures firmed on hopes that rising prices in Russia, the world's biggest exporter, would bolster U.S. exports, while corn futures finished slightly lower.
As for weather forecast for agricultural crop, a blizzard warning is in effect for much of the eastern part of the U.S. state North Dakota and the western edge of Minnesota, and a winter storm warning is in effect for parts of Iowa and Wisconsin, according to the National Weather Service.
