CBOT wheat futures surge over 4 pct on weather worries

Source: Xinhua| 2018-05-19 05:57:16|Editor: huaxia
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CHICAGO, May 18 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural commodities settled higher on Friday, with wheat futures surging over 4 percent on worries that adverse weather will lead to crop shortfalls in key growing areas around the world.

The weather outlook also threatened to slow planting progress in the U.S. Midwest, which was supportive of corn and soybean futures.

The most active corn contract for July delivery rose 7.25 cents, or 1.83 percent to close at 4.025 dollars per bushel. July wheat delivery added 20.75 cent, or 4.17 percent to close at 5.1825 dollars per bushel. July soybean delivery went up 3.5 cents, or 0.35 percent to close at 9.985 dollars per bushel.

Export sales of corn jumped last week while soybean sales declined, according to the U.S. Department of Agriculture(USDA) report released on Thursday.

Sales of old-crop corn jumped 42 percent last week to 985,700 tonnes, the USDA said in the report. That's also up 15 percent from the prior four-week average. Enditem

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