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Chicago agricultural commodities settle mixed

Xinhua,February 24, 2018 Adjust font size:

CHICAGO, Feb. 23 (Xinhua) -- Chicago Board of Trade (CBOT) grains closed mixed on Friday, with soybean futures rising to a one-year high as concerns mounted about crop losses from a searing drought in Argentina.

The most active corn contract for May delivery fell 0.25 cent, or 0.07 percent to close at 3.745 dollars per bushel. May wheat delivery stayed unchanged at 4.6425 dollars per bushel. May soybeans rose 4.25 cents, or 0.41 percent to close at 10.475 dollars per bushel.

On Friday, the U.S. Department of Agriculture (USDA) released its latest farm price projections at its annual agricultural outlook meeting. Investors are dealing with the USDA estimating large acreage and supplies for 2018.

As for international market, the overnight weather forecast for Argentina is little changed from prior days with some light rain noted for the far western agricultural areas.

The main Argentine agricultural area will hold in an arid trend next week with hints of some rain in the 11-15 day period. Enditem

 

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