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Chicago agricultural commodities settle mixed

Xinhua, April 29, 2017 Adjust font size:

Chicago Board of Trade (CBOT) grains futures closed mixed on Friday with corn and soybean futures falling on the prospect of dry weather for key Midwest production areas in early May, which would give farmers access to fields during a crucial planting period.

Wheat futures firmed, hitting their highest level in more than a week on concerns about a cold snap in the U.S. Plains damaging maturing crops.

The most active corn contract for July delivery went down 2.75 cents, or 0.74 percent, to settle at 3.665 dollars per bushel.

July wheat delivery rose 1 cent, or 0.23 percent to 4.3225 dollars per bushel. July soybeans fell 1 cent, or 0.1 percent, to 9.5625 dollars per bushel.

In the outside markets, the Brent crude oil market was 0.20 dollar per barrel higher, the U.S. dollar was lower, and the Dow Jones Industrials were 44 points lower.

Jack Scoville, The PRICE Futures Group's Senior Market Analyst, says that it is a mystery why corn is sagging.

"Maybe it is end of the month trading and nothing more. We are watching the weather which should be very wet this weekend and also the political news which is also unsettled." Scoville says. Endite