CHICAGO, Aug. 7 (Xinhua) -- Chicago Board of Trade (CBOT) grains futures closed higher on Monday, as investors cover short positions and less Midwest rain was recorded.
The most active corn contract for December delivery rose 5.75 cents, or 1.51 percent, to 3.8675 dollars per bushel. September wheat delivery went up 8.75 cents, or 1.92 percent to 4.635 dollars per bushel. November soybeans added 13 cents, or 1.36 percent, to 9.6975 dollars per bushel.
In the outside markets, the Brent crude oil market is 0.21 dollar per barrel lower, the U.S. dollar is lower, and the Dow Jones Industrials are 20 points higher.
Grains are trading higher today across the board on short covering, ahead of this week's United States Department of Agriculture crop production report.
The disappointing Midwest rain is also giving the market support, with yield reports lower than earlier estimated in some areas, said Jason Roose, U.S. Commodities grain analyst.
U.S. weekly export inspections for the week ending August 3 were: 38.4 million bushels of corn, 25.2 million bushels of soybeans, and 21.5 million bushels of wheat.
For their respective crop years to date, the U.S. has shipped out 2,114 million bushels of corn and 2,035 million bushels of soybeans. Enditem
