CHICAGO, May 26 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural futures rose across the board on Friday, led by corn.
The most active corn contract for July delivery soared 13.25 cents, or 2.24 percent, to settle at 6.04 U.S. dollars per bushel. July wheat rose 11.75 cents, or 1.94 percent, to settle at 6.16 dollars per bushel. July soybean gained 13.25 cents, or one percent, to settle at 13.3725 dollars per bushel.
CBOT agricultural markets are higher on the hope that President Joe Biden and the U.S. House can reach a 2-year debt ceiling deal amid threatening weather forecasts for the Midwest and Delta. The CBOT is all about weather in the days and weeks ahead.
Chicago-based research company AgResource holds that CBOT grain market volatility will stay high as the most important portion period of the 2023 growing season is just ahead.
The U.S. Supreme Court ruled that California could restrict hog husbandry production habits in legislation, which means that only pork raised in non-confinement operations before slaughter is eligible for sale in California.
Dryness is maintained for most of the Midwest for the next 10 days. The entirety of the region looks to stay dry into June 5. Concern is growing for hard red winter (HRW) wheat crop quality.