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Chicago corn lower; wheat, soybeans little changed

Xinhua, June 13, 2015 Adjust font size:

Chicago Board of Trade (CBOT) corn futures closed lower on Friday amid higher corn stocks expectations, while wheat and soybeans were little unchanged after a two-day decline.

The most active corn contract for July delivery lost 3.5 cents, or 0.98 percent, to close at 3.53 U.S. dollars per bushel. July wheat delivery shed 0.5 cents, or 0.1 percent, to close at 5.0375 dollars per bushel. July soybeans were unchanged at 9.4 dollars per bushel.

Corn futures dropped for a fourth straight session amid expectation for higher corn stocks. Next week, some agricultural research institutes are expected to release their estimates for the end of month Quarterly Stocks and Seeding Reports.

Chicago wheat on Friday hovered around the key level of 5.00 U. S. dollars during a choppy session, supported by heave rainfall which hurt the grain's harvest.

Moderate rains will fall across the Plains and Midwest and Western Delta throughout the next 4 to 5 days, with cumulative rainfall pegged in a range of 1 to 3.5 inches, according to the midday Global Forecast System.

For the week, the most active corn contract for July delivery dropped 2.08 percent, July wheat shed 2.56 percent, while July soybeans gained 0.24 percent. Endite