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Chicago agricultural commodities close lower

Xinhua, January 29, 2016 Adjust font size:

Chicago Board of Trade (CBOT) corn, wheat and soybeans all settled lower on Thursday.

The most active corn contract for March delivery lost 3.75 cents, or 1.02 percent, to close at 3.655 dollars per bushel. March wheat delivery fell 4.25 cents, or 0.89 percent, to close at 4.7225 dollars per bushel. March soybeans shed 15.25 cents, or 1.73 percent, to close at 8.6775 dollars per bushel.

Analysts said that international buyers' shift to South America to purchase their soybeans pressed soybeans lower on Thursday. The U.S. Department of Agriculture announced a cancellation of 395,000 tons of soybean export on Thursday morning, boosting concerns that demand for soybeans will turn weaker, according to analysts.

Wheat extended its losses on Thursday as the weather forecast showed it will snow next week in the U.S. plains, and analysts said that snow will benefit winter wheat there.

Analysts noted that corn followed wheat and soybeans lower on Thursday. Endit