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Chicago agricultural commodities closed mixed

Xinhua, August 10, 2016 Adjust font size:

Chicago Board of Trade (CBOT) grains futures closed mixed Tuesday, with soybeans rising for a fifth straight session, while corn futures fell slightly.

The most active corn contract for December delivery was down 2.25 cents, or 0.67 percent, to 3.325 dollars per bushel. September wheat delivery kept unchanged at 4.17 dollars per bushel. November soybeans was up 3 cents, or 0.3 percent, to 9.88 dollars per bushel.

Analysts said export demand for U.S. soybean supplies and supply concerns continues to support prices.

"The market's optimism for strong U.S. export demand was bolstered after the USDA reported yet another large sale of beans to China," said Tobin Gorey, director of agricultural strategy, Commonwealth Bank of Australia.

The USDA pegged 72 percent of the soybean crop at good to excellent, unchanged from a week earlier and matching analysts' expectations.

USDA said 74 percent of the corn crop was rated good to excellent, below market expectations of 75 percent good to excellent.

Market attention is turning to the next USDA report on Friday. The government is broadly expected to increase its U.S. corn and soy production forecasts. Endit