U.S. Agricultural Futures Rise

Faizan Hashmi Published October 16, 2021 | 12:06 PM

Chicago Board of Trade (CBOT) agricultural futures rose across the board on Friday, led by corn

CHICAGO, Oct. 16 (UrduPoint / Pakistan Point News - 16th Oct, 2021 ) --:Chicago Board of Trade (CBOT) agricultural futures rose across the board on Friday, led by corn.

The most active corn contract for December delivery rose 9 cents, or 1.74 percent, to settle at 5.2575 Dollars per bushel. December wheat gained 9.25 cents, or 1.28 percent, to settle at 7.34 dollars per bushel. November soybean climbed 11.5 cents, or 0.95 percent, to settle at 12.1775 dollars per bushel.

Strengthening U.S. export interest and strong domestic demand pushed CBOT agricultural futures higher.

Near record Chinese crush margins have stepped up Chinese demand for U.S. soybeans. Chicago-based research company AgResource looks for strengthening U.S. corn/soybean export demand into December.

The U.S. Department of Agriculture reported that China has booked another 132,700 metric tons of U.S. soybeans, with 396,000 metric tons to an unknown destination. In total, over 1.6 million metric tons of U.S. soybeans and more than 1.2 million metric tons of U.S. corn were sold this past week, the best since early spring.