U.S. Agricultural Futures Rise
Umer Jamshaid Published January 29, 2023 | 04:30 PM
CHICAGO, Jan. 29 (UrduPoint / Pakistan Point News - 29th Jan, 2023 ) :--:Chicago Board of Trade (CBOT) agricultural futures rose across the board on Saturday, led by wheat.
The most active corn contract for March delivery rose 7.75 cents, or 1.15 percent, to settle at 6.825 U.S. Dollars per bushel. March wheat gained 11.25 cents, or 1.52 percent, to settle at 7.525 dollars per bushel. March soybean climbed 21 cents, or 1.4 percent, to settle at 15.235 dollars per bushel.
CBOT futures were higher on better than expected U.
S. weekly export sales. The CBOT choppiness should persist as rain in Argentina pressures prices while the hope that China returns to the world raw materials market with new buying following the Lunar New Year holiday supports.
With spot corn and soybean prices at their second best level on record for the month of January, buying rally is difficult with funds already holding a sizeable long position. Chicago-based research company AgResource warns against chasing rallies or breaks, and advises keeping positioning small.
Recent Stories
HEC reviews curricula for environmental sciences degree programme
ICC Asia looking forward to an action-packed Asia Cricket Week
Yuvraj Singh named ICC Men’s T20 World Cup 2024 Ambassador
Greece hands Olympic flame to 2024 Paris Games hosts
Two Kyiv hospitals evacuating over feared Russian strikes
World must act on neurotech revolution, say experts
Charles & Catherine's cancer diagnoses
Champions Alcaraz and Sabalenka through in Madrid Open
King Charles to resume some public duties during cancer treatment: palace
US defense chief announces $6 bn in security aid for Ukraine
Heavy rains cause damage to Spezand-Taftan railway track
Woman stabbed in Israel, attacker killed: police
More Stories From Miscellaneous
-
Modern Education Techniques: A pathway to achieve economic development
13 hours ago -
Kite Flying: From cultural festival to deadly sport
14 hours ago -
PDMA predicts gusty wind, rain with thunder, hails
3 days ago -
Iranian president Raisi given guard of honour at PM House
5 days ago -
Intellectuals, writers accolades Naseer Mirza on his literary contribution
5 days ago -
Bahawalpur Adabi Sangat hosts memorable mushaira
5 days ago
-
Cattle farming vital to alleviate poverty in rural areas
5 days ago -
Pakistan: A land of tourism, archeological wonders
6 days ago -
Transforming education sector: from job hunters to job creators
8 days ago -
Amjad Bobby remembered on 19th death anniversary for timeless contributions to music
12 days ago -
Legendary actor Nadeem’s 26 films released on Eid-ul-Fitr days in 50 years
12 days ago -
Besant Hall Cultural Centre to celebrate evening with Sanam Marvi on 26 April
12 days ago