Chicago agricultural commodities settle mixed
Xinhua,January 10, 2018 Adjust font size:
CHICAGO, Jan. 9 (Xinhua) -- Chicago Board of Trade (CBOT) grains closed mixed on Tuesday, with corn and wheat futures higher, as investors covered short positions and prepared for government crop data due on Friday.
Soybean futures were narrowly lower amid analyst expectations that the U.S. Department of Agriculture would boost U.S. soy ending stocks and estimates for Brazilian soy output.
The most active corn contract for March delivery rose 1.75 cents, or 0.5 percent to settle at 3.49 dollars per bushel. March wheat delivery went up 4.5 cents, or 1.05 percent to close at 4.3225 dollars per bushel. March soybeans dropped 3 cents, or 0.31 percent to settle at 9.6375 dollars per bushel.
CBOT floor brokers estimate that funds have sold 3,000 contracts of soymeal, while buying 2,400 contracts of wheat and 4,500 contracts of corn. Funds have also bought 1,000 contracts of soyoil and sold 3,000 contracts of soybeans.
As for international market, Egypt's General Authority For Supply Commodities received 7 offers for wheat with one offer seeming very cheap at just above 192 dollars per tonne. Enditem