CHICAGO, Aug. 9 (Xinhua) -- Chicago Board of Trade (CBOT) soybean futures rose almost 1 percent on Friday amid dry weather forecasts for the U.S. Midwest.
The most active soybean contract for November delivery was up 8.75 cents, or 0.99 percent to settle at 8.9175 U.S. dollars per bushel. September wheat was up 1 cent, or 0.2 percent to 4.995 dollars. December corn was down 0.5 cent, or 0.12 percent to 4.1775 dollars per bushel.
As a result of excessive rainfall and even flooding during this past spring, large acreage of soybeans and corn in U.S. Midwest were planted late. If dry weather pattern persists in the coming weeks, growing crops may suffer further stress.
"The weather risks are looming," said Virginia McGathey, analyst with McGathey Commodities.
According to the latest weekly export sales report for July 26-Aug. 1, U.S. corn export was down 70 percent from the previous week and 82 percent from the prior four-week average. The downbeat performance weighed on CBOT corn futures despite support from dry weather conditions.