Chicago agricultural commodities rise across board

Chicago agricultural commodities rose across the board Tuesday, with wheat leading the rise.The most active corn contract for July delivery gained 4.75 cents, or 0.71 percent, to close at 6.7325 U.S. dollars per bushel. July wheat rose 7 cents, or 1.03 percent, to settle at 6.875 dollars per bushel, while November soybeans climbed 4.25 cents, or 0.33 percent, to close at 12.8975 dollars per bushel. July corn rose Tuesday on strong bids from the ethanol market in the western Corn Belt region in the United States. Nevertheless, the rise of corn contracts has been curbed as South Korea's largest feed makers purchased 127,000 tons of corn overnight from the Black Sea, and the weather forecasts for the U. S. Midwest toward the end of June foretell a decline in rainfall for some areas and increased temperatures. July wheat rose sharply Tuesday on short covering and steady bids for wheat across the Midwest. Rumblings that China is inquiring about Chicago wheat cargos also supported wheat. But, reports that harvest has started in some areas of Ukraine and Russia curbed the growth of wheat somehow. November soybean rose slightly Tuesday on higher cash bids in the interior processing market. Meanwhile, the U.S. Department of Agriculture reported that U.S. private exporters sold 240,000 tons of soybeans for the 2013-2014 marketing year, supportive of soybean prices.