CHICAGO, June 27 (Xinhua) -- Chicago Board of Trade (CBOT) grains futures closed higher on Tuesday with spring wheat futures hitting their highest level in nearly three years on forecasts for stressful weather in the northern Plains.
Corn and soybean futures also climbed after a U.S. Department of Agriculture (USDA) report said the condition of all three U.S. crops was worse than analysts had expected.
The most active corn contract for July delivery rose 0.25 cents, or 0.07 percent, to 3.5925 dollars per bushel. September wheat delivery added 3.5 cents, or 0.75 percent, to close at 4.69 dollars per bushel. July soybeans rose 4.5 cents, or 0.5 percent, to 9.1125 dollars per bushel.
In the outside markets, the Brent crude oil market is 0.88 dollar per barrel higher, the U.S. dollar is lower, and the Dow Jones Industrials are 41 points lower.
In its weekly Crop Progress Report Monday, the USDA showed 66 percent of U.S. soybeans in good to excellent condition, down from 67 percent a week ago and surprising analysts who expected an improvement.
The USDA rated 67 percent of the U.S. corn crop in good to excellent condition, unchanged from last week but below analysts' expectations of 68 percent.
Traders were adjusting positions ahead of USDA's June 30 acreage and quarterly stocks reports, which have a history of jolting the market.
Analysts said after Friday's USDA Reports, the markets will be eyeing the weather updates. Enditem
