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Chicago agricultural commodities settle mixed

Xinhua,March 07, 2018 Adjust font size:

CHICAGO, March 6 (Xinhua) -- Chicago Board of Trade (CBOT) grains closed mixed on Tuesday, with wheat futures falling 0.44 percent as crop conditions stabilized in the dry U.S. Plains growing region.

Analysts said that investors are eyeing the U.S. Department of Agriculture's monthly report due to be released on Thursday.

The most active corn contract for May delivery rose 1 cent, or 0.26 percent to close at 3.8825 dollars per bushel. May wheat delivery dropped 2.25 cents, or 0.44 percent to close at 5.07 dollars per bushel. May soybeans fell 2.75 cents, or 0.26 percent to close at 10.7475 dollars per bushel.

CBOT floor brokers report that funds on Tuesday have sold 3,100 contracts of wheat and 1,200 contracts of soybeans, while buying 2,900 contracts of corn. In soy products, funds have sold 1,800 contracts of soymeal and bought 2,300 contracts of soyoil.

As for international market, Egypt's state grain buyer General Authority For Supply Commodities is tendering for world wheat and is expected to secure Russian wheat.

Egypt's new crop wheat harvest will start in April and its international import demand is expected to wane into July. Enditem

 

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