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Chicago agricultural commodities closed mixed

Xinhua, February 13, 2015 Adjust font size:

Futures trading of agricultural commodities at Chicago Board of Trade (CBOT) ended mixed Thursday, with wheat and corn falling, and soybeans rising.

The most active corn contract for March delivery fell 2.75 cents, or 0.71 percent, to close at 3.83 U.S. dollars per bushel. Soybeans for March delivery rose 6 cents, or 0.61 percent, to close at 9.8375 dollars per bushel. Wheat for March delivery also lost 4.5 cents, or 0.86 percent, to close at 5.2125 dollars per bushel.

Soybeans rose as China remained a sizeable buyer of the crop from the United States. Analysts believe that U.S. export interest is diminishing and that soybean are overvalued, predicting a weaker trend to occur into March.

There is the possibility of a strike by Brazilian truckers in Mato Grosso according to some analysts. This also gave a slight lift to soybeans. No organized national strike is planned by Brazilian truckers for at least the next 40 days. But it is expected that some slowing of soybean movement to ports is possible.

Weekly U.S. export sales for the week ending Feb. 5 were all larger than expected. The U.S. sold 15 million bushels of wheat, 39.5 million bushels of corn, and 27.4 million bushels of soybeans.

The weather forecast shows snow hitting the Southern Midwest next week, as well as extremely cold temperatures ravaging the East Coast. The forecast for South America is little changed with a favorable mixture of sunshine and rain due for the next two weeks. Endite