Chicago agricultural commodities settle mixed
Xinhua,January 11, 2018 Adjust font size:
CHICAGO, Jan. 10 (Xinhua) -- Chicago Board of Trade (CBOT) grains closed mixed on Wednesday, with soybeans futures sinking to new lows as investors are awaiting government crop data due on Friday.
The most active corn contract for March delivery stayed unchanged at 3.49 dollars per bushel. March wheat delivery went up two cents, or 0.46 percent, to close at 4.3425 dollars per bushel. March soybeans dropped 8.75 cents, or 0.91 percent, to settle at 9.55 dollars per bushel.
CBOT brokers estimate that funds have sold 4,300 contracts of soybeans, 2,900 contracts of soymeal, and 1,200 contracts of soyoil.
Funds also bought 2,000 contracts of corn and 1,600 contracts of wheat. The funds continue to add to net short soybean position, while covering a modest portion of their grain short.
As for international market, India is expected to record large wheat production in 2018 based on an increase in yield, according to India's Agriculture Ministry. The government has kept a target of 97.50 million tons with harvest to begin in March. Enditem