Chicago agricultural commodities settle mixed
Xinhua,January 27, 2018 Adjust font size:
CHICAGO, Jan. 26 (Xinhua) -- Chicago Board of Trade (CBOT) grains closed mixed on Friday with soybeans falling back from recent gains, while wheat futures setting a seven-week high on short-covering and technical buying.
Corn and wheat prices have been largely supported by rising crude oil prices, improved Brazilian ethanol demand, and the falling U.S. dollar.
The most active corn contract for March delivery rose 1.25 cents, or 0.35 percent to close at 3.565 dollars per bushel. March wheat delivery went up 6.5 cents, or 1.5 percent to close at 4.41 dollars per bushel. March soybeans dropped 6.75 cents, or 0.68 percent to close at 9.855 dollars per bushel.
Private exporters sold 759,300 tonnes of soybeans, 1.5 million tonnes of corn for the week ended on Jan. 18, according to the Weekly Export Sales Report from the U.S. Department of Agriculture.
CBOT floor brokers estimate that funds are net sellers of 4,200 contracts of soybeans and buyers of 4,100 contracts of corn and 2,900 contracts of wheat. Enditem