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Chicago agricultural commodities mixed

Xinhua, February 10, 2016 Adjust font size:

Chicago Board of Trade (CBOT) corn , wheat extended their losses on Tuesday while soybeans closed higher slightly.

The most active corn contract for March delivery lost 1.25 cents, or 0.35 percent, to settle at 3.61 U.S. dollars per bushel. March wheat delivery fell 1 cents, or 0.22 percent, to close at 4.575 dollars per bushel. March soybeans added 0.75 cents, or 0.09 percent, to close at 8.6325 dollars per bushel.

Analysts said that corn and wheat declined more on Tuesday as an official report showed more supply and less demand.

The U.S. Department of Agriculture (USDA) released its monthly World Agriculture Supply and Demand Estimates Report (WASDE). As for the wheat, USDA said in the report that the U.S. wheat ending stocks are raised 25 million bushels, which are the largest since October, 2009. While U.S. wheat exports are lowered 25 million bushels on increased international competition.

The U.S. corn ending stocks are raised 35 million bushels while corn exports are projected 50 million bushels lower on larger supplies of South American corn, according to the report.

The U.S. soybean ending stocks was raised up 10 million bushels to 450 million bushels due to lower crush. But some analysts said that soybean settled a little higher on technical buying Tuesday after it fell for fourth successive trading days. Endit