Chicago agricultural commodities settle mixed
Xinhua,January 23, 2018 Adjust font size:
CHICAGO, Jan. 22 (Xinhua) -- Chicago Board of Trade (CBOT) grains closed mixed on Monday, with soybeans futures surging 7 cents on short-covering and dry weather in key producer Argentina.
The most active corn contract for March delivery fell 0.5 cent, or 0.14 percent to close at 3.52 dollars per bushel. March wheat delivery went up 3 cents, or 0.71 percent to close at 4.2575 dollars per bushel. March soybeans added 7 cents, or 0.72 percent to settle at 9.8425 dollars per bushel.
CBOT brokers report that funds on Monday have sold 4,400 contracts of corn and 2,300 contracts of wheat, while buying 4,100 contracts of soybeans.
The Commodity Futures Trading Commission said last Friday that money managers extended their net-short positions for soybeans to multimonth highs.
That, in turn, has led some analysts to believe investors will buy back their contracts and close their positions at the first sign of bullish news. Enditem