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Chicago agricultural commodities close mixed

Xinhua, June 28, 2016 Adjust font size:

Chicago Board of Trade (CBOT) soybeans closed sharply higher on Monday, corn settled a little higher after it fell for fifth successive trading days, while wheat extended its loss to open the week.

The most active corn contract for July delivery added 0.75 cents, or 0.20 percent, to close at 3.8525 dollars per bushel. In Sept., wheat delivery fell 6.75 cents, or 1.45 percent, to settle at 4.5825 dollars per bushel. In Nov., soybeans advanced 26.25 cents, or 2.43 percent, to close at 11.0475 dollars per bushel.

Soybeans settled sharply higher Monday on fresh export news from the U.S. Department of Agriculture (USDA), which announced in the morning that private exporters reported export sales of 150,000 tons of soybeans for delivery to unknown destinations. USDA already announced Friday morning export sales of 411,500 tons of soybeans for delivery to unknown destinations.

Corn and soybean also climbed as new weather forecast favored hotter and drier weather in some crop fields in U.S. Midwest in July, according to analysts.

As for the wheat, analysts noted that ongoing wheat harvest in U.S. Midwest and Southern Plains gave pressure on wheat, while the stronger U.S. dollar on Monday also weighed on the dollar-denominated U.S. wheat. Endit