Chicago commodities futures mixed after USDA export report
Xinhua, September 25, 2015 Adjust font size:
Chicago Board of Trade (CBOT) corn and wheat declined, while soybeans extended gains on Thursday after the U.S. Departments of Agriculture (USDA) released its Weekly Export Sales Report.
The most active corn contract for December delivery fell 1.75 cents, or 0.46 percent, to settle at 3.815 U.S. dollars per bushel. December wheat delivery shed 10.25 cents, or 2.02 percent, to close at 4.9725 dollars per bushel. November soybeans gained 4.25 cents, or 0.49 percent, to close at 8.68 dollars per bushel.
The USDA said Thursday that net export sales of wheat for delivery in marketing year 2015/2016 till week of Sept. 17 was 282,800 tons, down 25 percent from the previous week and 23 percent from the prior four-week average.
Corn net sales was 426,300 tons, down 20 percent from the previous week, according to the report.
Analysts noted that export sale numbers were disappointing, putting pressure on corn and wheat Thursday.
Additionally, the International Grains Council lifted its forecast for global wheat production Thursday in its monthly report by 7 million tons to 727 million tons, which was also bearish to wheat, according to analysts.
Soybeans extended some gains as the USDA reported above-trade-expectation numbers, saying that net sales of soybeans was 1,316,000 tons, up 44 percent from the previous week. Endit