February opens with adverse weather across US Midwest, causing grains futures to rise
Due to poor weather conditions and travel delays, the Chicago Board of Trade open-outcry trading will begin at 10 a.m. CST Feb. 2. Wheat, corn and soybeans all are forecast to open higher, with weather-threatened crops cited as a factor in wheat futures possibly opening 12-15 cents higher. Governments may increase wheat purchases to bolster these inventories.
CBOT daily trading volume averaged 12.3 million contracts in January, up 10% compared to January 2010. Total volume for January was 246 million contracts. Agricultural commodities volume averaged 1.1 million contracts per day in January, up 37 percent compared to the previous January.