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Chicago agricultural commodities close mixed

Xinhua, May 24, 2016 Adjust font size:

Chicago Board of Trade (CBOT) corn extended a little gains on Monday while wheat declined, soybeans retreated and settled lower on profit taking.

The most active corn contract for July delivery added 3.25 cents, or 0.82 percent, to close at 3.9775 dollars per bushel. July wheat delivery lost 5.75 cents, or 1.23 percent to settle at 4.62 dollars per bushel. July soybeans shed 15.75 cents, or 1.47 percent, to close at 10.585 dollars per bushel.

Corn extended gains Monday on concerns that rains in some planting areas in U.S. Midwest may slow down spring soybean planting there, according to analysts.

While soybeans retreated, following soybean meal's decline from last week's highs. Additionally, profit taking also advanced Monday morning in the market. AgResource, the Chicago-based agriculture consultancy, reported that CBOT floor brokers estimated that funds have sold 7,000 contracts of soybeans in the morning session.

The U.S. Department of Agriculture said on Monday that private Exporters reported export sales of 140,000 tons of soybeans for delivery to unknown destinations during the 2016/2017 marketing year; and sales of 20,000 tons of soybean oil for delivery to unknown destinations.

Wheat shed for its 4th successive trading days, and analysts noted that wheat followed soybeans lower on Monday. Endit