Chicago agricultural commodities open lower
Xinhua,December 12, 2017 Adjust font size:
CHICAGO, Dec. 11 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural commodities opened lower on Monday with hot and dry weather pattern keeping its influence in South America.
As of 1545 GMT, January soybeans were down 5 cents at 9.8625 U.S. dollars per bushel, March corn was down 2.75 cents at 3.4975 while March wheat was down 5.5 cents at 4.135.
Dry and hot weather has stressed Argentine and southern Brazilian crops over the weekend, except that a few showers fell in parts of Argentina.
It's estimated that up to one third of the Brazilian crop areas have endured less-than-normal rainfall, which will influence negatively the growth of grains there. However, the estimates failed to boost CBOT futures.
Now the eyes are on the world agricultural supply and demand estimates report to be released by the U.S. Department of Agriculture on Tuesday. But observers are expecting few surprises in the monthly report. Enditem