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Chicago agricultural commodities extend losses to close week

Xinhua, July 16, 2016 Adjust font size:

Chicago Board of Trade (CBOT) corn, wheat and soybeans extended losses to close the week on Friday .

The most active corn contract for December delivery lost 6.50 cents, or 1.78 percent, to 3.5825 dollars per bushel. September wheat delivery fell 9.25 cents, or 2.13 percent, to 4.2475 dollars per bushel. November soybean shed 5 cents, or 0.47 percent, to 10.5725 dollars per bushel.

For the week, corn, wheat and soybeans declined 1.17 percent, 2.36 percent and 0.05 percent respectively.

The midday weather forecast on Friday showed wetter weather in some corn and soybean fields in U.S. Midwest, pressing corn and soybeans lower again on Friday as traders were closely monitoring the weather model on Friday, analysts noted.

Wheat futures continued to follow corn and soybean lower on Friday.

However, the U.S. Department of Agriculture (USDA) brought some bullish export news for soybeans on Friday by announcing in the morning that private exporters reported export sales of 320,000 tons of soybeans for delivery to unknown destinations during the 2016/2017 marketing year. Endit