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CBOT wheat lower over improved weather conditions

Xinhua,April 13, 2018 Adjust font size:

CHICAGO, April 12 (Xinhua) -- Chicago Board of Trade (CBOT) futures were trading mixed on Thursday morning with wheat prices declining further over improved weather forecasts for the U.S. plains.

As of 1502 GMT, May corn was up 1 cent at 3.88 U.S. dollars per bushel while May wheat was down 9.5 cents at 4.7775 dollars and May soybeans up 9.75 cents at 10.575 dollars per bushel.

Investors made bullish bets on wheat due to dry weather in the southern plains and unusually cold weather recently in the Midwest. Amid improved weather forecasts with rain for the central plains and sharply rising temperatures for the Midwest, CBOT wheat futures started to feel the pressure.

Additional pressure came from the newly raised outlook for both U.S. and global inventories of the grain, which made some investors sell their contracts to lock in profits. Enditem

 

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