Off the wire
• UN agency reports fewer children detained for immigration purposes  • Scientists turn to satellite images to map poverty  • U.S. voters skeptical about either Trump or Clinton presidency  • U.S. strongly denounces terror attacks in Turkey, expresses support  • Canadian stocks slightly down as banks offset energy gains  • Finnish President defends initiative on Baltic flight safety  • IS suicide attacks kill 10 Libyan soldiers in Sirte  • Fifth-ranked Park leads Olympic women's golf, Feng moves up six  • (Sports Focus) China launches investigation into swimmer's positive test  • Darfur rebels accuse AU mediation of siding with Sudan's gov't  
You are here: 　 Home

Chicago agricultural commodities close mixed

Xinhua, August 19, 2016 Adjust font size:

Chicago Board of Trade (CBOT) grains futures closed mixed Thursday, with soybean futures closing well above session lows as technical buyers stepped into the market after profit-taking sparked an early sell-off.

Wheat and corn futures firmed on short-covering, recovering from early dips into negative territories.

The most active corn contract for December delivery was up 2.25 cents, or 0.66 percent, to 3.42 dollars per bushel. December wheat delivery rose 1.25 cents, or 0.28 percent, to 4.4425 dollars per bushel. November soybeans fell 1.5 cents, or 0.15 percent, to 10.145 dollars per bushel.

Expectations that U.S. growers this year will harvest the biggest corn crop in history capped gains in the market, while projections for massive domestic stockpiles also weighed on prices. Federal forecasters estimate that U.S. corn reserves in the 2016-17 season will top two billion bushels, marking a 41% increase from the current season.

But USDA's weekly export report on Thursday morning came in as expected and did not provide the fresh fuel that traders said the soy market needed to spur more gains, traders said. The report showed old-crop export sales in the latest week totaled 177,900 tonnes and new-crop export sales 1.598 million tonnes.

Corn, which notched its fifth straight higher close, was consolidating after recovering from seven-year lows hit on Friday. USDA also issued a forecast for record corn production last week.

Wheat also ticked higher but market strength remained capped by big harvests in exporting countries in North America and the Black Sea region. Endit