CBOT futures settle lower amid sell-off

CHICAGO, April 11 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural commodities closed lower on Wednesday with wheat and soybeans posting losses after consecutive gains in the past four sessions.

The most active corn contract for May delivery fell 2.25 cents at 3.87 U.S. dollars per bushel. May wheat delivery went down 4.75 cents, or 0.97 percent to close at 4.8725 dollars per bushel. May soybeans were down 2.25 cents, or 0.21 percent to settle at 10.4775 dollars per bushel.

Traders said it was mostly a dull session in CBOT, with relatively low volume at all markets.

Lowered estimates of 2017/18 U.S. soybean ending stocks and declined Argentine crop projection continued to support the soybean prices during the morning session.

However, sell-off mentality prevailed later and the soybean market closed in the negative territory.

CBOT wheat, which saw significant increases in price recently due to unusually cold weathers in the U.S. plains, also reversed its uptrend as temperatures are rising sharply.

Analysts with the AgResource company said markets now lack input needed to push to new highs. Enditem