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Chicago agricultural commodities close mixed

Xinhua, July 26, 2016 Adjust font size:

Chicago Board of Trade (CBOT) agricultural commodities close mixed on Monday, with soybeans extending losses on fund selling, favorable weather.

Wheat futures were slightly higher, lifted by crop concerns in Europe, while corn prices fell slightly.

The most active corn contract for December delivery fell 0.5 cents, or 0.15 percent, to 3.4125 dollars per bushel. September wheat delivery rose 3.75 cents, or 0.88 percent, to 4.29 dollars per bushel. November soybean declined 22 cents, or 2.23 percent, to 9.6625 dollars per bushel.

Speculative investors have built up a large net long, or bullish, stake in soybean futures, compared with bearish net short bets in both corn and wheat, according to U.S. Commodity Futures Trading Commision data released on Friday.

With extended weather outlooks showing normal amounts of precipitation in the Midwest crop belt, investors were unwinding those long positions, analysts said. Endit