CBOT wheat falls sharply over profit-taking

CHICAGO, April 26 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural commodities closed mixed on Thursday with wheat plunging over profit-taking.

The most active corn contract for July delivery fell 0.5 cent, or 0.13 percent to settle at 3.9525 dollars per bushel. July wheat delivery went down 9.5 cents, or 1.9 percent to close at 4.895 dollars per bushel. July soybeans were up 0.25 cent, or 0.02 percent to settle at 10.395 dollars per bushel.

CBOT brokers reported that funds bought 1,200 contracts of corn, while selling 2,200 contracts of wheat and 2,100 contracts of soybeans.

Following sharp gains over 25 cents in the past two days, CBOT wheat on Thursday retreated from its seven-week high as investors locked in profits.

Corn futures also reversed its previous upturn amid profit-taking.

U.S. weather conditions also leaned bearish for agricultural commodities as forecasts feature dry and warming days across the Midwest and plains for the next 5-10 days.

The U.S. Department of Agriculture on Thursday released its weekly export sales report, showing that corn and soybean sales missed their expected levels.

In another related development, the U.S. dollar index has kept rising recently. A strengthened dollar would impact the competitiveness of U.S. commodities in the international market. Enditem