U.S. agricultural futures rise

By Xu Jing
  • World
  • Tuesday, 27 Feb 2024

CHICAGO, Feb. 26 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural futures rose across the board on Monday, led by corn.

The most active corn contract for May delivery soared 8 cents, or 1.93 percent, to settle at 4.215 U.S. dollars per bushel. May wheat rose 5.75 cents, or 1.01 percent, to settle at 5.7475 dollars per bushel. May soybean gained 3.5 cents, or 0.31 percent, to settle at 11.4525 dollars per bushel.

March contract liquidation break is coming to an end. South American weather forecast features drier and warmer than normal weather across most of North Central Brazil that is drawing down soil moisture and making March rainfall highly important for Brazil's winter corn crop. China is more active in seeking Brazilian soybeans with private buyers and importers securing Ukraine corn for April. Chicago-based research company AgResource forecasts a more important reduction based on harvested yield data.

AgResource learned that five to six cargos of Brazilian soybean were sold to China on Monday.

U.S. farmers are actively applying fertilizers and preparing ground for spring seeding due to record Midwest warmth and a lack of soil moisture. For key states like Iowa and Illinois, corn and southern state soybean seeding can start on April 10.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In World

Woman fails to show up for prison, then posts online that she’s at the beach, US officials say
Singapore PM Lee to hand over power to successor Wong on May 15
AI is spying on the food we throw away
Adobe’s ‘ethical’ Firefly AI was trained on Midjourney images
Ex-Amazon engineer gets three years for hacking DeFi platforms
Content creation holds appeal for laid-off workers seeking flexibility
Fast rise in AI nudes of teens has unprepared US schools, legal system scrambling for solutions
France, Germany and EU mark anniversary of Sudan war with funding push
Hatsune Miku played Coachella, but she’s not human. Why brands are working with digital avatars
AI-generated fashion models could bring more diversity to the industry – or leave it with less

Others Also Read