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Chicago agricultural commodities close mixed

Xinhua, March 6, 2015 Adjust font size:

Chicago Board of Trade (CBOT) agricultural commodities closed lower Thursday with corn rising slightly, while wheat and soybeans falling.

The most active corn contract for May delivery added 1.00 cent, or 0.26 percent, to close at 3.905 U.S. dollars per bushel. Wheat for May delivery lost 15.50 cents, or 3.13 percent, to close at 4. 805 dollars per bushel. May soybeans dropped 8.50 cents, or 0.86 percent, to close at 9.855 dollars per bushel.

Analysts said wheat futures dropped on stronger dollar and ample global supplies. U.S. dollar rose against other major currencies on Thursday in late New York trading. The euro fell to 1.1027 dollars, while the greenback bought 120.16 Japanese yen. Analysts noted that the strong dollar continued to make U.S. wheat more expensive in world markets, especially when Europe and Black Sea region reported more supply of wheat.

Soybeans went down Thursday as traders were worried that the supply of South American soybean might flood the market following a record harvest there as well as the easing of the truck drivers' strike.

The U.S. Department of Agriculture said Thursday in its weekly export report that for the week ending Feb. 26, U.S witnessed net sales of 469,600 metric tons (MT) of wheat for delivery in the 2014/2015 marketing year, 43 percent up from the previous week. Corn export sales was 828,100 MT, up 16 percent, whereas soybeans sales was at 499,500 MT, up 9 percent. Analysts said the figures were within trade forecasts and Chicago crop futures had minor reactions to them. Endite