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Chicago corn, soybeans post modest gains; wheat drops for third straight day

Xinhua, November 18, 2015 Adjust font size:

Chicago Board of Trade (CBOT) corn and soybeans rose slightly Tuesday on technical support, while wheat retreated for a third straight day on favorable weather.

The most active corn contract for December delivery added 2 cents, or 0.56 percent, to 3.62 U.S. dollars per bushel. December wheat delivery shed 6.5 cents, or 1.32 percent, to 4.875 dollars per bushel. January soybeans gained 4.5 cents, or 0.52 percent, to 8.64 dollars per bushel.

Wheat fell Tuesday on the arrival of much-needed rains in the central and southern plains, as well as in Russia and the Ukraine this week, which is favorable for wheat production following a dry planting season.

Corn and soybean futures posted modest gains on technical support.

The U.S. Department of Agriculture said Monday that corn harvested was rated as 96 percent till week ending on Nov. 15, while winter wheat planted was rated at 94 percent. Winter wheat emerged was 87 percent and winter wheat condition was rated at 52 percent good to excellent, the department said. Endit