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Chicago wheat, soybean, corn futures market closes mix on U.S. grain stocks report

Xinhua, October 1, 2015 Adjust font size:

Chicago Board of Trade (CBOT) agricultural commodities futures closed mixed Wednesday, with wheat and soybean futures rallying strongly as a report showed U.S. crop stocks are lower than expected, while corn keeping falling amid higher U.S. corn prices on global markets.

The most active corn contract for December delivery shed 1.25 cents, or 0.32 percent, to close at 3.8775 U.S. dollars per bushel. December wheat delivery gained 9 cents, or 1.79 percent, to close at 5.1275 dollars per bushel. November soybeans added 7.75 cents, or 0.88 percent, to close at 8.92 dollars per bushel.

U.S. soybean, wheat and corn stockpiles for Sept. 1 were all below expectations, according to a report issued by the U.S. Department of Agriculture (USDA) Wednesday.

Corn stocks were pegged at 1.73 billion bushels, 4 million bushels less than expectations; soybean stocks were at 191 million bushels, 13 million bushels under pre-report estimates, while wheat stocks were 76 million bushels under estimates, according to AgResource company, a Chicago-based agricultural research institute.

USDA also reported wheat stored in all positions totaled 2.09 billion bushels, up 10 percent from Sept. 1, 2014, while soybean, corn stocks increased by 108 percent and 44 percent from a year ago, respectively.

Chicago corn fell for a second straight session Wednesday due to U.S. corn's higher price on global markets. Endit