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Chicago agricultural commodities close mixed

Xinhua, April 19, 2016 Adjust font size:

Chicago Board of Trade (CBOT) corn and wheat settle higher Monday, while soybeans fell slightly on profit taking to open the week.

The most active corn contract for May delivery added 2.50 cents, or 0.66 percent, to close at 3.81 dollars per bushel. May wheat delivery advanced 13 cents, or 2.83 percent, to close at 4.7275 dollars per bushel. May soybeans declined 1.75 cents, or 0.18 percent, to close at 9.5425 dollars per bushel.

Wheat futures saw their biggest daily advance Monday since Oct. 26, 2015 after they rose 3.77 percent, based on short covering. CBOT floor brokers reported that funds have bought 9,000 contracts of wheat, AgResource, a Chicago-based agriculture consultancy, reported in its midday commentary.

Corn extended gains as traders were expecting the ongoing dryness in Brazil will hamper winter corn there, prompting short covering in the corn market Monday. Funds have bought 11,000 contracts of corn before midday, according to AgResource.

While soybeans closed a little lower on apparent profit taking Monday after being higher much of Monday. Endit