Wheat leads U.S. grain futures higher on hopes for end to government shutdown

[Road through wheat field]
Toltek/iStock via Getty Images

Chicago grains futures rose Monday on hopes the U.S. may be heading toward an end to the government shutdown, which would restore access to the full set of agricultural data.

Grain traders rely on reports from the U.S. Department of Agriculture to help their decisions, including the closely-watched World Agricultural Supply and Demand Estimates, but USDA data has been limited since the shutdown began in early October.

Analysts said grain futures followed the overall optimistic sentiment in the broader markets, although it is expected to take several days before the government can officially re-open.

"I would assume government funding is a light supportive point," Rich Nelson of Allendale Inc. said ina note, but "I would suggest a better upside discussion comes from the hope/expectation that we'll see mandatory China buying for corn/wheat in some type of finished trade deal."

CBOT wheat (W_1:COM [https://seekingalpha.com/symbol/W_1:COM]) for December delivery closed +1.5% to $5.35 3/4 per bushel, while soybeans (S_1:COM [https://seekingalpha.com/symbol/S_1:COM]) for January delivery settled +0.9% to $11.27 1/4 per bushel and corn (C_1:COM [https://seekingalpha.com/symbol/C_1:COM]) for December delivery ended +0.5% to $4.29 1/2 per bushel.

ETFs: (WEAT [https://seekingalpha.com/symbol/WEAT]), (SOYB [https://seekingalpha.com/symbol/SOYB]), (CORN [https://seekingalpha.com/symbol/CORN]), (DBA [https://seekingalpha.com/symbol/DBA]), (MOO [https://seekingalpha.com/symbol/MOO])

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