Off the wire
• Urgent: U.S. stocks rebound strongly to kick off December  • (Recast) Volkswagen U.S. sales plummet after emissions scandal  • Feature: China assists in Mozambique's infrastructure reconstruction  • UN agency scales up humanitarian operations in Yemen amid worsening food security  • UN agency launches campaign to protect Palestinian refugees in harsh winter  • Volkwagen U.S. sales plummet after emissions scandal  • Libya's neighbors endorse peace efforts of new UN envoy  • British manufacturing PMI keeps expansion in November  • Bill Gates sets up "Breakthrough Energy Coalition" investment in clean energy technologies  • 1st LD Writethru: Oil prices steady ahead of OPEC meeting  
You are here: 　 Home

Chicago corn, soybeans extend gains; wheat continues to slide

Xinhua, December 2, 2015 Adjust font size:

Chicago Board of Trade (CBOT) corn, soybeans extended gains on expectations of more demand Tuesday, while wheat continued to slide.

The most active corn contract for March delivery gained 1.5 cents, or 0.4 percent, to settle at 3.7375 U.S. dollars per bushel. March wheat delivery lost 4 cents, or 0.84 percent, to close at 4.715 dollars per bushel. January soybeans added 8.25 cents, or 0.94 percent, to close at 8.8925 dollars per bushel.

Analysts said corn and soybeans extended gains on hope of more demand. U.S. Environmental Protection Agency issued final blending requirements on Monday, ordering distributors to mix higher-than-expected ethanol, biodiesel and other advanced biofuels into the nation's fuel supply next year, and analysts said that this news has prompted hopes for more use of corn and soybeans as corn, soybeans are main feedstocks in ethanol and biodiesel, respectively, in the country.

Additionally, the softer dollar and short covering on Tuesday also supported corn and soybeans to close higher, according to analysts.

However, wheat continued to shed Tuesday on expectations of more supplies. The U.S. Department of Agriculture said on Monday, after the market closed, winter wheat conditions were rated at 55 percent good or excellent as of week of Nov. 29, up two percentage points from a week earlier. Enditem