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Chicago agricultural commodities open mixed

Xinhua,December 30, 2017 Adjust font size:

CHICAGO, Dec. 29 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural commodities opened mixed on Friday, with soybeans futures slightly higher while corn and wheat futures lower.

Trading is expected to be extremely quiet as traders, investors and hedgers take the day off ahead of a long weekend. Some position squaring is expected, but volume will be light, analysts said.

March corn was down 1 cent at 3.51 U.S. dollars per bushel as of 1540 GMT in the morning trading, March wheat was down 2.5 cents at 4.2525 dollars, while January soybeans was up 1.5 cents at 9.5675 dollars.

Soybean prices on Thursday dropped 10.75 cents amid favorable weather in Brazil. Rain has already fallen in much of central Brazil and is scheduled to fall in northern states in the next week to 10 days, forecasters said.

Crops in Brazil are in a key reproductive period, which makes the rainfall timely. Some weekend showers are developing in Argentina, where dry weather has been a concern. Enditem

 

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