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Chicago agricultural commodities open lower

Xinhua,December 08, 2017 Adjust font size:

CHICAGO, Dec. 7 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural commodities opened lower on Thursday with soybeans plunging below the 10 U.S. dollars per bushel level.

As of 1550 GMT, January soybeans fell 10.25 cents to 9.924 dollars per bushel, while March corn edged down 1.75 cents and March wheat was down 3.50 cents.

CBOT soybeans posted significant losses as the U.S. dollar index continued to rise since the beginning of this week. A firmer dollar will make CBOT communities less competitive in world market.

Some investors also suspect that the recent rally of soybeans above 10 dollars a bushel was a bit overdone.

A cold snap is hitting the U.S. southern plains early this morning, with some areas reportedly seeing freezing temperatures. Traders are closely watching the weather development there and possible impact on crops. Enditem