CHICAGO, June 8 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural futures rose across the board on Wednesday, led by corn.

       The most active corn contract for July delivery rose 7.5 cents, or 0.99 percent, to settle at 7.645 U.S. dollars per bushel. July wheat gained 3 cents, or 0.28 percent, to settle at 10.7475 dollars per bushel. July soybean climbed 11.75 cents, or 0.68 percent, to settle at 17.4 dollars per bushel.

       CBOT futures were higher on strong cash markets and threatening Central U.S. weather forecasts. Wheat is awaiting a more defined technical position ahead of the U.S. Department of Agriculture June report on Friday. World wheat prices are hovering just below prior week record highs. Chicago-based research company AgResource maintains that world and Chicago wheat values have yet to score their seasonal highs.

       Tight Midwest cash corn and soybean supplies amid the threat of a summer Central U.S. drought will underpin CBOT price breaks. Amid a world that is extremely short of grain and oilseed stocks, any new crop yield loss would be explosive for CBOT valuations. Fearing EU 2022 wheat and corn production is also in retreat, AgResource holds that the upside price risk will be considerable.

       CONAB raised its estimate of the 2022 Brazilian soybean crop to 124.3 million metric tons, up 500,000 metric tons; and corn to 115.2 million metric tons, up 600,000 metric tons.

       U.S. weekly ethanol grind fell by 10 million gallons from the prior week to 305 million gallons. The pace of U.S. ethanol production is expected to stay elevated due to strong margins. U.S. gasoline consumption was record large for the week.

       Showers and cooler temperatures will end across the Midwest into the weekend. U.S. weather pattern will change as a high pressure Ridge builds across the Central United States. Extreme heat will build from south to north with a below normal Central U.S. rainfall pattern starting early next week. Immature crops can withstand this pattern initially, but beyond the first 10 days, the pattern will become adverse.