CHICAGO, Aug. 21 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural futures rose on Wednesday, boosted by short covering and mild bargain buying after two straight days of losses in the corn and wheat.
The most active corn contract for December delivery was up 1.5 cents, or 0.41 percent, to settled at 3.7025 dollars per bushel. December wheat was also up 1.5 cents, or 0.32 percent to 4.68 dollars per bushel. November soybeans were up 4.75 cents, or 0.55 percent to 8.73 dollars per bushel.
Beneficial rainfall in the U.S. Midwest and bearish export data have dragged down the corn and wheat prices, yet some analysts argued that they were technically oversold.
The grains extended losses in the morning, but short covering and bargain hunting helped their futures recover and close in the positive territory.
Market participants are also keeping their eyes on this week's Pro Farmer Midwest Crop Tour, awaiting the annual assessment of expected crop yields. Early reports have suggested lower crop yields this year. Enditem