CHICAGO, July 20 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural futures closed higher on Friday, as world demand for U.S. grains will probably increase amid falling crop yields elsewhere.
The most active corn contract for December delivery rose 4 cents, or 1.1 percent, to settle at 3.69 dollars per bushel. September wheat went up 11.75 cents, or 2.33 percent, to close at 5.16 dollars per bushel. November soybeans were up 3.25 cents, or 0.38 percent to settle at 8.6475 dollars per bushel.
Latest official data showed that export sales of grains and soybeans jumped week to week, indicating rising demand for U.S. supplies, though the uncertainty still lingers over CBOT soybeans amid unsolved trade disputes between the U.S. and China.
Russian wheat export offers have become limited due to declining winter wheat crop quality. In France, the largest grain grower in European Union, is also expected to produce less wheat this year because of unfavorable weather conditions.
As Paris wheat prices are rising amid falling supplies, U.S. wheat, with high protein, will help offset the losses of other areas and buoy U.S. export demand beyond October, said analysts with AgResource, a Chicago-based agricultural research firm.
As a result, CBOT wheat futures have posted sharp gains in the past two sessions.
