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Sunday, April 19, 2015, Baishakh 6, 1422 BS, Jamadius Sani 28, 1436 Hijr

Chicago corn, soybeans up, wheat dips on rains
Published : Sunday, 19 April, 2015,  Time : 12:00 AM,  View Count : 13

CHICAGO, April 18: Chicago Board of Trade (CBOT) agricultural commodities mixed Friday with wheat dipped on more rains in key growing areas, while corns and soybeans rose.
The most active corn contract for May delivery added 3.5 cents, or 0.93 per cent, to close at 3.7975 U.S. dollars per bushel. Wheat for July delivery dipped 1.5 cents, or 0.31 per cent, to close at 4. 8925 dollars per bushel. May soybeans gained 2.75 cents, or 0. 28 per cent, to close at 9.6875 dollars per bushel.
Analyst said that wheat decreased as much-needed rains arrived in U.S. Plains, easing worries that dryness would hurt wheat growth. Storms since Thursday have brought rains to northwest Kansas and central Oklahoma, the red winter wheat belt of American, and more showers are expected during weekends and next week, according to the weather forecast.
Corn was supported by market worries that wet weather will hamper the corn seeding progress. Corn were firmer on short covering Friday morning amid expectation that weather will be too cool and wet for corn seeding, Agresource, a Chicago-based research institute said Friday, added that CBOT floor brokers reported that funds have secured 3,000 contracts of corn on Friday morning.
As for the soybeans, the rumors that some independent truckers are considering striking North Brazilian highways next week triggered fund buying, supportive for soybeans. CBOT floor brokers report that funds have bought 4,000 contracts of soybeans in the morning.

Editor : Iqbal Sobhan Chowdhury
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