CHICAGO, Dec. 22 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural futures rose across the board on Friday, led by wheat.
The most active corn contract for March delivery rose 0.5 cents, or 0.11 percent, to settle at 4.73 U.S. dollars per bushel. March wheat gained 3.75 cents, or 0.61 percent, to settle at 6.1625 dollars per bushel. March soybean climbed 4.5 cents, or 0.35 percent, to settle at 13.0625 dollars per bushel.
Soybean added modest premium as every drop of rainfall in Brazil is scrutinized. The markets most likely will limp into 2024. Much of the trade closed books for the year weeks ago, and daily price discovery next week is unlikely to signal the beginning of any new trends.
2024 will be as volatile as 2023 geopolitical risks expand, and large global production is needed to sustain builds in global stocks. Chicago-based research company AgResource holds that the strategy remains to advance cash sales only on rallies.
Other news is lacking.
Additional scattered showers are impacting northern and southern Brazil into Sunday. Rain chances are diminished next week. Brazilian temperatures stay at or above average, which keeps evaporation rates elevated.
