Chicago agricultural futures retreat in morning trading
Xinhua,January 05, 2018 Adjust font size:
CHICAGO, Jan. 4 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural commodities were trading lower on Thursday morning, following days of gains over cold concerns.
As of 1541 GMT, March corn was down 2.5 cents at 3.505 U.S. dollars per bushel, March wheat was down 3 cents at 4.33 dollars while March soybeans were down 9.5 cents at 9.5925 dollars per bushel.
Wheat futures rose sharply in the past two sessions as a result of severe cold hitting North America. When temperatures started to rise in the wheat-growing southern plains, the prices went down.
However, forecasters said that more extreme weather is on the way for parts of the far eastern edge of the winter wheat belt, which could cause damage to those plants without a cover of snow.
The U.S. production of ethanol, using corn, has risen in recent weeks, according to official data. But this failed to further support corn prices.
As for CBOT soybeans, following three consecutive days of gains, the prices suffered significant losses during the morning session amid large volume of selling. Enditem