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Chicago agricultural commodities closed lower

Xinhua, March 3, 2015 Adjust font size:

Chicago Board of Trade (CBOT) agricultural commodities ended lower Monday, with corn, wheat, and soybeans falling.

The most active corn contract for May delivery fell 5.25 cents, or 1.34 percent, to close at 3.88 U.S. dollars per bushel. Soybeans for May delivery lost 18.00 cents, or 1.74 percent, to close at 10.1375 dollars per bushel. May wheat dropped 13.00 cents, or 2.53 percent, to close at 5 dollars per bushel.

All three major agricultural commodities fell Monday as Brazilian port officials report that the flow of new crop soybeans is much improved following the decline in truck protests and blockages on the weekend and earlier on Monday, according to analysts.

As for the wheat, which posted the biggest loss Monday, analysts said that the poor export demand for American supplies also put pressure on its prices as there is news on the market that Egypt had snapped up 110,000 tonnes of Russian and Ukrainian supplies in its latest tender.

The weather forecast says it is slightly warmer for the U.S., and the warmth may help active corn seeding across the U.S. states on the Gulf of Mexico, including Texas, but analysts do expect improved rain chances for the Plains in March. Endite