Off the wire
• FIFA scandal another attempt of U.S. extending jurisdiction: Putin  • 1st LD Writethru: U.S. stocks retreat on renewed Greece concerns  • Botswana primary school gets donation from China  • Over 85,000 Iraqis displaced since mid-May: UN  • Urgent: U.S. stocks retreat on renewed Greece concerns  • 1st LD Writethru: U.S. dollar mixed amid upbeat data  • Obama visits shrine in Miami to honor Cuban Americans  • Foreign exchange rate of Euro to other currencies  • 1st LD Writethru: Oil prices rise as U.S. supplies fall  • Researchers retrieve "lost" memories in mice  
You are here: 　 Home

Chicago corn rebounds on ethanol data, wheat up, soybeans down

Xinhua, May 29, 2015 Adjust font size:

Chicago Board of Trade (CBOT) corn rebounded Thursday as an official report showed higher ethanol output and lower stocks, wheat also rebounded while soybeans settled lower.

The most active corn contract for July delivery added 4 cents, or 1.14 percent, to close at 3.535 U.S. dollars per bushel. Wheat for July delivery gained 1 cent, or 0.21 percent, to close at 4. 8875 dollars per bushel. July soybeans fell 1 cent, or 0.11 percent, to close at 9.26 dollars per bushel.

The U.S. Energy Information Administration said Thursday in its weekly report that ethanol stocks for the week ended in March 22 were down 0.3 percent from last week at 20.1 million barrels while production of the corn-based biofuel rose 1.1 percent to 0.969 million barrels a day.

The report was seen as supportive for corn, prompted some early short covering, the Chicago-based Institute Agresource said in its daily newsletter. CBOT floor brokers reported that funds have bought 4,500 contracts of corn before midday, according to Agresource.

Dry weather in key wheat production area of Russia supported wheat. Wheat prospect declined as growing conditions have deteriorated recently amid hot and dry weather, especially in Russia's Rostov region, one of the most important for wheat exports, analysts said..

News that a tentative agreement was reached in the Argentine strike has sparked selling of soybeans in the market, pressing the grain down Thursday, analysts said. CBOT floor brokers reported that funds have sold 2,300 contracts of soybeans in the morning, according to Agresource. Endite