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Chicago agricultural commodities close mixed

Xinhua, June 4, 2016 Adjust font size:

Chicago Board of Trade (CBOT) corn, wheat climbed for their third trading days in a row on Friday, while soybeans retreated on profit taking after climbed to its near two year highs.

The most active corn contract for July delivery added 3 cents, or 0.72 percent, to close at 4.1825 dollars per bushel. July wheat delivery climbed 11.75 cents, or 2.42 percent, to settle at 4.9725 dollars per bushel. July soybeans shed 12.25 cents, or 1.07 percent, to close at 11.32 dollars per bushel.

For the week, corn, wheat and soybeans advanced 1.33 percent, 3.27 percent and 4.19 percent respectively.

The U.S. Department of Agriculture (USDA) released its weekly export sales report on Friday morning. In the report, USDA rated rated corn net sales at 1,317,900 tons till week of May 26, which were down 5 percent from the previous week, but up 12 percent from the prior 4-week average. Analysts noted that the corn export sales were higher than expected, boosting expectations of corn demand will be lifted.

USDA said that wheat net sales were 107,400 tons, up noticeably from the previous week, but down 33 percent from the prior 4-week average.

However, some analysts noted that rains in France may dent wheat prospects there, helping U.S. wheat extended gains on Friday.

As for the soybeans, USDA said that soybeans net sales were 309,400 tons, down 32 percent from the previous week and 39 percent from the prior 4-week average. Endit