Chicago agricultural commodities mixed in morning trading
Xinhua,December 15, 2017 Adjust font size:
CHICAGO, Dec. 14 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural commodities opened mixed on Thursday following an overall rally in previous session.
As of 1545 GMT, March corn was up 1.25 cents at 3.5 dollars per bushel, March wheat was up 3.25 cents at 4.2 dollars while January soybeans were down 6.75 cents at 9.725 dollars.
Short-covering had pushed up prices of CBOT commodities on Wednesday, with soybeans ending losses after a downturn for five straight days. On Thursday, soybean futures felt the pressure amid broadcast that dry weather in Argentina may give way to rainfall in the next six to ten days.
Official statistics show that U.S. ethanol production in the week that ended on Dec. 8 averaged 1.089 million barrels a day, down from the record high of 1.108 million a week earlier, but it's still the second-largest weekly total on record.
The ethanol output at high level led the U.S. Department of Agriculture to increase its projection on how much corn would be used to make the biofuel, which offered some support to corn market. Enditem