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Chicago soybeans lower on weaker export sales

Xinhua, January 1, 2016 Adjust font size:

Chicago Board of Trade (CBOT) corn and wheat were little changed amid light quiet trading on Thursday, while soybeans settled lower as an official report showed weaker export sales.

The most active corn contract for March delivery lost 0.25 cents, or 0.07 percent, to settle at 3.5875 U.S. dollars per bushel. March wheat delivery added 0.25 cents, or 0.05 percent, to close at 4.70 dollars per bushel. March soybeans declined 6 cents, or 0.69 percent, to close at 8.6425 dollars per bushel.

The U.S. Department of Agriculture (USDA) said on Thursday in its Weekly Export Sales Report that soybean net sales were 478,800 tons till the week of Dec. 24, down 77 percent from the previous week and 62 percent from the prior four-week average. Analysts noted that the report showed demand for U.S. soybeans turned weaker during year-end.

The USDA said that corn net sales were 705,200 tons, down 12 percent from the previous week and 3 percent from the prior four-week average; while wheat net sales was 363,500 tons, down 2 percent from the previous week, but up 11 percent from the prior four-week average.

The trading was quiet during year-end and the markets will be closed on Friday for New Year Holiday.

For the week, corn, soybeans fell 1.58 percent, 1 percent respectively, while wheat added 0.53 percent.

Corn, wheat and soybeans all embraced monthly and yearly declines in the final trading day of 2015.

For December, corn, wheat, and soybeans lost 3.63 percent, 1.16 percent and 1.90 percent respectively.

For the year 2015, corn, wheat and soybeans declined 9.63 percent, 20.30 percent and 15.56 percent respectively, compared to the last trading day of 2014. Endit