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Chicago agricultural commodities settle mixed

Xinhua,February 21, 2018 Adjust font size:

CHICAGO, Feb. 20 (Xinhua)-- Chicago Board of Trade (CBOT) grains closed mixed on Tuesday, with soybean futures rising, as market worried about hot and dry weather in Argentina.

Sizzling conditions in Argentina since November have prompted traders and analysts to slash harvest estimates, fueling projections that export business could shift to the United States from South America.

The most active corn contract for March delivery fell 2 cents, or 0.54 percent to close at 3.655 dollars per bushel. March wheat delivery went down 8.5 cents, or 1.86 percent to close at 4.4925 dollars per bushel. March soybeans rose 5 cents, or 0.49 percent to close at 10.265 dollars per bushel.

CBOT brokers report that funds on Tuesday have bought 1,400 contracts of corn, 2,700 contracts of soybeans, while selling 2,500 wheat. Funds are on the buy side of the CBOT and are expected to enter a net long corn position by the end of the week. Enditem

 

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