U.S. agricultural futures rise

CHICAGO, June 28– Chicago Board of Trade agricultural futures rose across the board on Monday, led by corn. Traders are debating flooded and drowned out crops in Northern Missouri and Central Illinois. U.S. export inspections for the week ending June 24 were 40.0 million bushels of corn, 3.8 million bushels of soybeans and 10.5 million bushels of wheat.

CHICAGO, June 28 (Xinhua) — Chicago Board of Trade (CBOT) agricultural futures rose across the board on Monday, led by corn.

The most active corn contract for December delivery soared 28 cents, or 5.39 percent, to settle at 5.4725 dollars per bushel. September wheat rose 10.75 cents, or 1.68 percent, to settle at 6.515 dollars per bushel. November soybean gained 42.75 cents, or 3.37 percent, to close at 13.125 dollars per bushel.

Corn and new crop soybeans were the upside leaders. Traders are debating flooded and drowned out crops in Northern Missouri and Central Illinois. Frost and freeze for Brazilian corn is also providing an upside price lift, Chicago-based research company AgResource noted.

Brazilian corn is rising sharply on frost/freeze losses that will add on top of drought yield reductions. The frost catches that March seeded corn crop at a vulnerable stage.

U.S. export inspections for the week ending June 24 were 40.0 million bushels of corn, 3.8 million bushels of soybeans and 10.5 million bushels of wheat.

Weather forecast shows it is wetter across Illinois, Indiana and Missouri, and drier across the Southern Plains. Arid weather conditions are maintained across the Northern Plains and Northwest Midwest.

The Brazilian winter corn crop is in rapid decline with a new threat of a frost/freeze while heat/dryness returns to U.S. Northern Plains and Northwest Midwest. AgResource stays bullish on expanding U.S. demand potential and supply losses. Enditem