Soybeans go up slightly on Wednesday’s close along with corn and wheat; Oil stable on increased U.S. demand

Soybeans - Investors Mart

The CME Group’s soybean market closed higher along with the prices of corn and wheat on Wednesday.

Futures contracts for corn for delivery in December ended about 2 cents higher at $3.61 while the futures for delivery in March closed at $3.73.

Futures contracts for corn for delivery in November went up by around 2 cents at $9.71 while January futures finished at $9.80.

Futures contracts for wheat for delivery in September closed higher at $4.45.

The December soymeal futures contracts closed $higher at 308.70.

On Thursday, the prices of oil were steady due to increased demand from the United States where refineries are going to commence operations for the first time after Hurricane Harvey wreaked havoc over Louisiana and Texas a few weeks ago.

Futures for the global benchmark for the price of oil, Brent crude, went down by 8 cents to $54.12 per barrel but it is not far from the three-month high that was recorded in the previous day.

Futures for U.S. West Texas Intermediate crude fell 4 cents to $49.12 per barrel, below the previous settlement. WTI is close to the previous session’s three-week high.

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