CBOT crop futures lower as dry weather prevails

0 Comment(s)Print E-mail Xinhua, June 12, 2019
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CHICAGO, June 11 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural futures traded lower on Tuesday morning as dry weather conditions allowed farmers in the U.S. Midwest to accelerate planting.

As of 1531 GMT, the most active corn contract for July delivery was down 4.25 cents to 4.115 U.S. dollars per bushel. July wheat was down 0.75 cent to 5.0675 dollars per bushel. July soybeans were down 2.75 cents to 8.5575 dollars per bushel.

The U.S. Department of Agriculture on Monday released its weekly report on planting progress and crop conditions as of June 9. The report showed that 83 percent of U.S. corn was seeded, compared to the previous week's 67 percent.

Meanwhile, 60 percent of U.S. soybeans were in the ground, up from 39 percent in the previous period.

Although the seeding progress was still below the 2014-2018 average, the new report indicated that improved weather conditions finally allowed farmers to plant their crops. Enditem

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