Chicago corn and soybeans prices rose Monday, while wheat price kept unchanged from the previous trading day.
The most active corn contract for March delivery rose 4.25 cents, or 1 percent, to close at 4.2775 dollars per bushel. March wheat closed at 6.0575 dollars per bushel, unchanged from the previous trading day. March soybeans climbed 5.5 cents, or 0.43 percent, to close at 12.7675 dollars per bushel.
March corn rose on short covering. U.S. Department of Agriculture (USDA) reported that the United States exported 19.3 million bushels of corn for the week ending Jan. 2. To date, America has exported 471.9 million bushels of corn in this crop year, up 80 percent year on year.
Meanwhile, U.S. sold 110,600 tonnes of corn to Mexico Monday, supportive of corn.
March wheat first rose over worries that below-zero temperatures may do damages to U.S. winter wheat crops but closed flat Monday as the doubts faded. The USDA put wheat exports for the week ending Jan. 2 at 13.6 million bushels. To date, the United States has exported 743 million bushels of wheat, up 40 percent on year.
Meanwhile, U.S. exported 160,000 tonnes of new wheat crop to an unknown destination Monday.
March soybean rose on commercial buying. The USDA put soybean exports for the week ending Jan. 2 at 56.45 million bushels. To date, The United States has exported 922.6 million bushels of soybeans, up 12.5 percent on year. China accounted for 78 percent of U.S. soybean shipments last week. Nevertheless, traders will continue to watch for cancellations from China.
