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Chicago agricultural commodities close mixed

Xinhua, August 23, 2016 Adjust font size:

Chicago Board of Trade (CBOT) grains futures closed mixed Monday, with soybean futures rebounding by ongoing optimism over export demand.

Meanwhile, corn and wheat prices fell. The most active corn contract for December delivery was down 1.25 cents, or 0.36 percent, to 3.425 dollars per bushel. December wheat delivery fell 9.5 cents, or 2.14 percent, to 4.3525 dollars per bushel. November soybeans rose 11.25 cents, or 1.12 percent, to 10.1575 dollars per bushel.

With Monday's sale, in 14 out of 15 days, the U.S. has made fresh soybean sales. Private exporters reported to the U.S. Department of Agriculture export sales of 120,000 metric tons of soybeans for delivery to unknown destinations during the 2016/2017 marketing year.

The marketing year for soybeans began September 1st.

Corn and wheat futures fell, weighed down by a stronger U.S. dollar and expectations that domestic growers will harvest big crops this year, piling onto already large grain inventories.

Prices for corn closed lower despite disappointing yield reports from scouts on an annual crop tour through the Midwest, who on Monday traversed fields in Ohio and South Dakota to size up crops in the area.

Grain traders are keeping a close eye on dispatches from the Pro Farmer crop tour to see whether yield and condition reports help confirm, or add to doubt, over the USDA's forecast for a 15.2 billion-bushel corn crop this year. Analysts said yield reports from the two states would likely be the worst of the tour as weather stress this year hit the far eastern and western parts of the Corn Belt. Endit