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Chicago wheat ends 2-day rally; soybeans lower, corn futures mixed

Xinhua, October 3, 2015 Adjust font size:

Chicago Board of Trade (CBOT) agricultural commodities closed mixed on Friday with wheat retreating on profit-taking, soybeans keeping falling, while corn prices changing little.

The most active corn contract for December delivery added 0.5 cents, or 0.13 percent, to close at 3.8925 U.S. dollars per bushel. December wheat delivery lost 5 cents, or 0.96 percent, to close at 5.1325 dollars per bushel. November soybeans dropped 3 cents, or 0.34 percent, to close at 8.7425 dollars per bushel.

Chicago wheat pulled back on Friday from its seven-week highs, following rallying almost 3 percent in the past two days as markets found support from the surprising cut in U.S. crop stocks reported by the U.S. Department of Agriculture (USDA) on Wednesday.

Soybean prices Friday extended their declines into second straight day, as a major agricultural research institute raised its estimate of U.S. soybean production, and the harvest progress in the Midwest is accelerating on favorable weather.

CBOT corn futures traded both sides on Friday and were lightly mixed at the close with only December corn edging higher.

For the week, the most active corn contract for December delivery added 0.06 percent, December wheat gained 1.08 percent, while November soybeans dropped by 1.69 percent. Endit