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Chicago corn, wheat, soybeans extend gains to close week

Xinhua, December 5, 2015 Adjust font size:

Chicago Board of Trade (CBOT) corn, wheat extended their gains Friday, while soybeans climbed for its fifth successive trading day after new export sales were announced.

The most active corn contract for March delivery added 4.5 cents, or 1.19 percent, to settle at 3.815 U.S. dollars per bushel. March wheat delivery rose 5.75 cents, or 1.2 percent, to close at 4.845 dollars per bushel. January soybeans rose 8.5 cents, or 0.95 percent, to close at 9.06 dollars per bushel.

For the week, corn, wheat and soybeans climbed 3.88 percent, 1.15 percent and 3.78 percent, respectively.

Analysts said that corn and wheat gained on ongoing short covering in the market.

The U.S. Departments of Agriculture said in the morning through its daily reporting system that private exporters reported export sales of 178,000 metric tons of soybeans for delivery to China and 49,000 metric tons of soybeans for delivery to unknown destinations. Endit