Wheat hikes while corn, soybeans decline

CHICAGO, Apr 20 (Xinhua): Chicago wheat further hiked yesterday, registering the third rise in a row, underpinned by deteriorated condition in U.S. wheat crops. However, corn and soybeans declined amid weak sentiment. The most active corn contract for July delivery fell 2.5 cents, or 0.33 percent, to close at 7.57 U.S. dollars per bushel. July wheat hiked 10.25 cents, or 1.3 percent, to 8.21 dollars per bushel. July soybean shed 1.75 cents, or 0.13 percent, to 13.54 dollars per bushel. Market analysts said that wheat gained strength from worsening winter-crop conditions as well as delayed spring-crop plantings in the U.S.. The U.S. Department of Agriculture (USDA) recently said that about 38 percent of the winter-wheat crop was in poor or very poor condition as of April 17, up from 36 percent a week earlier and six percent a year earlier.