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Chicago agricultural commodities close mixed

Xinhua, May 17, 2016 Adjust font size:

Chicago Board of Trade (CBOT) corn extended gains on Monday, wheat unchanged, while soybeans shed for a fourth successive trading session.

The most active corn contract for July delivery gained 3.25 cents, or 0.83 percent, to close at 3.94 dollars per bushel. July wheat delivery was unchanged at 4.7475 dollars per bushel. July soybeans was lower of 0.5 cents, or 0.05 percent, to close at 10.645 dollars per bushel.

Analysts said that corn extended gains on fresh export news as the U.S. Department of Agriculture (USDA) said Monday morning that private exporters reported export sales of 128,000 tons of corn for delivery to South Korea during the 2015/2016 marketing year.

The USDA said Thursday in its weekly export sales report that corn net sales till the week of May 5 reached 1,105,300 tons, up 44 percent from the previous week. Corn already advanced 3.51 percent last week.

However, soybeans continued to decline amid profit taking after soybeans's big advance last week. CBOT floor brokers estimated that funds have sold 3,500 contracts of soybeans in the morning session, according to AgResource, the Chicago-based agriculture consultancy.

Additionally, the lower price of soybean meal on Monday also dragged soybeans down, analysts said. Endit