U.S. agricultural futures rise

0 Comment(s)Print E-mail Xinhua, July 21, 2021
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CHICAGO, July 20 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural futures rose across the board on Tuesday, led by corn.

The most active corn contract for December delivery rose 13.5 cents, or 2.44 percent, to settle at 5.6575 U.S. dollars per bushel. September wheat gained 2.75 cents, or 0.39 percent, to settle at 7.005 dollars per bushel. November soybean climbed 15.75 cents, or 1.15 percent, to settle at 13.885 dollars per bushel.

CBOT agricultural futures were higher with corn and soybean pacing the rally. Threatening weather in Central U.S. was the catalyst for the CBOT rally, Chicago-based research company AgResource noted.

Russian wheat yield data continues to be disappointing.

There is talk that China is again looking for U.S. wheat, namely U.S. hard red winter (HRW) wheat for September/October.

Weather forecast shows slightly less warm with rain for Iowa in the next week. But the overall pattern of a Central U.S. ridge and generally hot/dry weather conditions for the next two weeks has not changed. Tight world grain stocks and a demand led bull for U.S. corn, soybeans and wheat.

AgResource does not suggest selling breaks in a weather market. Enditem

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