Chicago agricultural commodities settle mixed
Xinhua,December 21, 2017 Adjust font size:
CHICAGO, Dec. 20 (Xinhua)-- Chicago Board of Trade (CBOT) grains closed mixed on Wednesday, with wheat futures rebounding over concerns about cold weather threatening a key wheat growing region.
Corn also rose on spillover support from wheat and as traders covered short positions following recent contract lows. Soybeans fell to three-month lows as rain in parts of Brazil and Argentina was seen favoring crops there.
The most active corn contract for March delivery went up 1.75 cents, or 0.5 percent, to 3.4925 dollars per bushel. March wheat delivery added 4 cents, or 0.95 percent, to 4.235 dollars per bushel. January soybeans fell 2 cents, or 0.21 percent to 9.54 dollars per bushel.
CBOT brokers estimate that funds have bought 2,100 contracts of corn and 1,400 contracts of wheat, while selling 1,900 contracts of soybeans.
The U.S. Department of Agriculture's weekly report released Wednesday shows private sellers exported 500,000 to 575,000 tonnes of wheat, 1 to 1.3 million tonnes of corn, 1.1 to 1.4 million tonnes of soybeans for the week ending Dec.14. Enditem