Chicago agricultural commodities rose across the board Monday, led by soybean.
The most active corn contract for March delivery rose 1.75 cents, or 0.4 percent, to close at 4.345 dollars per bushel. March wheat gained 4.5 cents, or 0.79 percent, to close at 5.735 dollars per bushel. March soybeans added 15.75 cents, or 1.23 percent, to close at 12.9425 dollars per bushel.
March corn rose slightly Monday on positive ethanol margins. Export inspections conducted by U.S. Department of Agriculture ( USDA) showed that U.S. export shipment of corn in the week ending Jan. 9 was at 20.9 million bushels. USDA also announced a 120,000- tonne export of milo to China.
March wheat closed higher Monday supported by U.S. wheat export to Egypt. U.S. export shipment of wheat in the week ending Jan. 9 was at 25.2 million bushels, up 11 million bushels from the previous week, the highest level since mid-October.
March soybean went up sharply Monday as USDA announced export of 140,000 tonnes of old crop soybean to unknown destinations. Meanwhile, export shipment of U.S. soybeans in the week ending Jan. 9 was at 59.4 million bushels. By Jan. 9, U.S. soybean exports totaled 984 million bushels, a record 66 percent of USDA newly updated forecast. China remained an active buyer.