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Chicago agricultural commodities settle mixed

Xinhua,February 22, 2018 Adjust font size:

CHICAGO, Feb. 21 (Xinhua)-- Chicago Board of Trade (CBOT) grains closed mixed on Wednesday, with soybean futures rising on expectations that a drought-reduced crop in Argentina would buoy demand for U.S. supplies.

Abundant global supplies and weather improvement in U.S. Plain weighed on wheat futures, while corn futures rose slightly on traders' short covering.

The most active corn contract for March delivery rose 0.25 cent, or 0.07 percent to close at 3.6575 dollars per bushel. March wheat delivery went down 2 cents, or 0.45 percent to close at 4.4725 dollars per bushel. March soybeans rose 7.75 cents, or 0.75 percent to close at 10.3425 dollars per bushel.

CBOT brokers report that funds on Wednesday have bought 3,400 contracts of corn and 4,100 contracts of soybeans, while being flat in wheat. Funds are on the long side of the CBOT and are building a large net long soybean positions. Enditem

 

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