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Chicago agricultural commodities close mixed on slow trading session

Xinhua, October 11, 2016 Adjust font size:

Chicago Board of Trade (CBOT) grains futures close mixed Monday, as the trading session is slow.

The most active corn contract for December delivery rose 3.5 cents, or 1.03 percent, to 3.4325 dollars per bushel. December wheat delivery added 9 cents, or 2.28 percent, to 4.0375 dollars per bushel. November soybeans fell 1.75 cents, or 0.18 percent, to 9.5675 dollars per bushel.

On Wednesday, the USDA will update its 2016 U.S. corn and soybean yield estimates, ending stocks, and world crop estimates. The early talk is that the USDA will print bigger yield and crop estimates vs. last month.

Jack Scoville, The PRICE Futures Group's senior market analyst, says that the trading session is slow.

"Most of the attention is on the weekly updates that will be out tomorrow and the crop reports on Wednesday. I see very few new positions being taken today; mostly it is liquidation on one side or the other," Scoville says.

He adds, "That seems like a lot, given the rains last week. Most producers very happy with beans, corn being ignored for the bean harvest right now. For the markets, it looks like a choppy affair today and tomorrow." Enditem