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Chicago agricultural commodities mixed

Xinhua, January 15, 2016 Adjust font size:

Agricultural commodities at the Chicago Board of Trade (CBOT) were mix on Thursday, with corn unchanged, wheat settling lower, and soybeans climbing higher for the third successive trading day.

The most active corn contract for March was unchanged at 3.58 U.S. dollars per bushel. March wheat delivery shed 9.25 cents, or 1.94 percent, to close at 4.6875 dollars per bushel. March soybeans added 2.25 cents, or 0.26 percent, to close at 8.8225 dollars per bushel.

Analysts said trade was light Thursday and wheat shed for its second day as European wheat declined Thursday, while wheat was also pressed lower on big domestic and global supplies.

The U.S. Department of Agriculture (USDA) projected in its monthly World Agricultural Supply and Demand Estimates Report Tuesday, raising 2015/16 wheat ending stocks by 30 million bushels, while increasing global wheat supplies for 2015/16 by 1.2 million tons.

However, another report showed improved demand for U.S. wheat. USDA said Thursday in its Weekly Export Sales Report that wheat net sales till the week of Jan. 7 were 274,700 tons for delivery in marketing year 2015/2016, up noticeably from the previous week, but down 3 percent from the prior 4-week average.

USDA put corn net sales at 669,200 tons, up noticeably from the previous week while increasing 14 percent from the prior 4-week average. Private exporters reported export sales of 102,100 metric tons of corn for delivery to Mexico during the 2015/2016 marketing year.

As for soybeans, said USDA, net sales was 1,127,400 tons, up 77 percent from the previous week and 13 percent higher from the prior 4-week average. Analysts believed this was good for soybeans as it boosted expectations for more U.S. soybeans to be sold in the near future. Endit