Off the wire
• Bolivian VP accuses opposition of blocking vote count after referendum  • Oil prices tumble as Saudi Arabia rules out production cuts  • Urgent: UN resolution on DPRK expected to be adopted within days: Chinese FM  • Roundup: New FAO report stresses importance of community-based forestry  • Danish chocolate maker Mars massively recalls candy bars  • UN Security Council slams deadly attacks in Syria, calls for negotiations  • 1st LD Writethru: Gold up on weaker global equities  • Ireland sees lowest unemployment figures in 7 years  • Urgent: U.S. stocks pull back amid falling oil, mixed data  • French President Hollande visits Peru, in hope of boosting bilateral trade ties  
You are here: 　 Home

Chicago agricultural commodities close lower on technical selling

Xinhua, February 24, 2016 Adjust font size:

Chicago Board of Trade (CBOT) corn, and soybeans retreated Tuesday, while wheat declined for its fifth successive trading day.

The most active corn contract for May delivery lost 5.5 cents, or 1.48 percent, to close at 3.6675 dollars per bushel. May wheat delivery declined 8.25 cents, or 1.78 percent, to close at 4.5575 dollars per bushel. May soybeans shed 11.25 cents, or 1.27 percent, to close at 8.73 dollars per bushel.

Analysts said that technical selling weighed on corn, soybeans Tuesday as corn and soybeans both rose to a multiple-week high Monday after their advance last week, prompting funds' profit taking Tuesday. CBOT floor brokers reported that funds have sold 3,800 contracts of corn and 7,000 contracts of soybeans before midday, said Agresource, the Chicago-based agriculture consultancy, Tuesday in its midday commentary.

Rain across the U.S. southern plains, the key wheat planting areas of the country, has boosted expectations of more wheat supply, pressing wheat futures to a new low since June 2010, according to analysts.

Brokers reported that funds have sold 5,100 contracts of wheat before midday, according to Agresource. Endit