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CBOT grains lower over profit-taking

Xinhua,February 01, 2018 Adjust font size:

CHICAGO, Jan. 31 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural commodities were trading lower on Wednesday morning over profit-taking after prices climbed sharply in the previous sessions.

As of 1543 GMT, March corn was down 0.25 cent at 3.6125 U.S. dollars per bushel while March wheat was down 4.5 cents at 4.5275 dollars and March soybeans down 7 cents at 9.9325 dollars per bushel.

Funds started to sell contracts after CBOT wheat futures reached the highest level in four months. The poor crop condition due to dry weather in U.S. plains had pushed up the wheat prices.

Additional pressure came from concerns that active U.S. growers may also speed up selling after corn, wheat and soybean prices increased significantly. Enditem

 

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