CBOT: July wheat rises 1 cent to US$5.1375/bushel; July wheat rises 0.25 cent to US$7.085/bushel; July soybeans rise 5.75 cents to US$15/bushel

Nevin Barich

CHICAGO , April 28, 2014 (Xinhua News Agency) – Chicago agricultural commodity futures were traded higher Monday, mostly supported by commercial buying and weather concerns.

The most active corn contract for July delivery rose one U.S. cent, or 0.20 percent, to settle at 5.1375 dollars per bushel. July wheat gained 0.25 cent, or 0.04 percent, to settle at 7.085 dollars per bushel. July soybeans rose 5.75 cents, or 0.38 percent, to close at 15.00 dollars per bushel.

Grains started the week higher with old-crop soybeans showing the largest gains as commercial buyers continue to vie for shrinking U.S. supplies of soybeans. Wheat also closed higher after a weekend of dry and windy weather stressed winter crops in the southwestern U.S. Plains.

Corn and soybeans also rose on speculation that cold, wet weather early this week will delay planting in the U.S., the biggest producer of the crops. Storms will bring more than 51 millimeters of rains to the northern U.S. Midwest, including parts of Iowa and Wisconsin, and below-normal temperatures by midweek may slow fieldwork, weather forecast say. Enditem

(c) 2014 Xinhua News Agency

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