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Chicago agricultural commodities close mixed

Xinhua, March 7, 2015 Adjust font size:

Chicago Board of Trade (CBOT) agricultural commodities closed mixed on Friday with wheat rising slightly, corn and soybeans falling.

The most active corn contract for May delivery lost 4.50 cents, or 1.15 percent, to close at 3.86 U.S. dollars per bushel. Wheat for May delivery added 2.00 cents, or 0.42 percent, to close at 4. 825 dollars per bushel. May soybeans dropped 0.50 cent, or 0.05 percent, to close at 9.85 dollars per bushel.

Analysts said wheat futures rebounded because of short covering and cash connected buying, noting that wheat dropped sharply on Wednesday and Thursday. Also there were rumors in the market that the U.S. has sold a few cargoes of wheat to Brazil.

As for the corn, the Chicago-based agency Agresource said in its daily newsletter that as the Central U.S. weather warms, the traders expect that cash sales of record large farm corn supplies will quicken because farmers need to raise cash before the start of spring seeding. Endite