Chicago agricultural commodities futures market closed lower across board
Xinhua, July 23, 2015 Adjust font size:
Chicago Board of Trade (CBOT) corn, wheat and soybeans futures all settled lower on favorable weather Wednesday, according to analysts.
The most active corn contract for September delivery was down 3. 75 cents, or 0.92 percent, to close at 4.0275 U.S. dollars per bushel. September wheat delivery fell 8 cents, or 1.52 percent, to close at 5.1675 dollars per bushel. November soybeans fell 9.25 cents, or 0.92 percent, to close at 9.955 dollars per bushel. The Central U.S. weather forecast is favorable with less rainfall across the East Midwest and the widely scattered showers across the Western Midwest and the Northern Plains, and no extreme heat is expected. Analysts said that the favorable weather will help corn and soybeans development, while expediting the harvest of winter wheat, boosting expectations of more supplies in the market.
The U.S. Energy Information Administration said Wednesday in its Weekly Ethanol Plant Production Report for the week of July 17 that the weekly production of fuel ethanol was 973,000 barrels per day, 11,000 barrels lower than the previous week, while ethanol stocks was slightly lower. Some analysts said that these data were slightly bearish for corn. Endite