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Chicago soybeans, corn, wheat down on profit-taking

Xinhua, May 8, 2015 Adjust font size:

Chicago Board of Trade corn, wheat and soybean futures fell Thursday on profit-taking as the U.S. dollar turned higher.

The most active corn contract for July delivery fell 5.25 cents, or 1.43 percent, to close at 3.615 U.S. dollars per bushel. Wheat for July delivery decreased 6.5 cents, or 1.36 percent,to close at 4.7275 dollars per bushel. July soybeans lost 7.5 cents, or 0.76 percent, to close at 9.75 dollars per bushel.

All the three major agricultural commodities fell on Thursday on a fresh round of profit-taking as dollar gained. A stronger greenback means cheaper commodities, analysts said. It is estimated that at midday 5,000 contracts of corn, 2,000 contracts of wheat, and 4,000 contracts of soybeans have been sold,according to Chicago-based research Institute Agresource.

The U.S. Agriculture Department reported Thursday net sales reductions of 148,200 metric tons wheat for delivery for the period April 24-30 in marketing year 2014/2015. Analysts said the anemic export figures also weighed on wheat. Endite