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Chicago agricultural commodities settle mixed

Xinhua,February 23, 2018 Adjust font size:

CHICAGO, Feb. 22 (Xinhua)-- Chicago Board of Trade (CBOT) grains closed mixed on Thursday, with corn and wheat futures rising in largely technical-driven trading as investors awaited crop supply and demand estimates from U.S. Department of Agriculture(USDA) due early on Friday.

The most active corn contract for March delivery added one cent, or 0.27 percent, to close at 3.6675 dollars per bushel. March wheat delivery went up four cents, or 0.89 percent, to close at 4.5125 dollars per bushel. March soybeans fell 2.25 cents, or 0.22 percent, to close at 10.32 dollars per bushel.

At its annual agricultural outlook meeting on Thursday, the USDA pegged the U.S. 2018 corn and soybean acreage at 90 million each, which is generally in line with analyst expectations.

As for international market, the main Argentine agricultural area will hold in an arid trend over the next 10-14 days. The Argentine drought is becoming acute, and rain is immediately needed to prevent a further sharp fall in crop yield potential. Enditem

 

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