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CBOT futures settle mixed following monthly crop report

Xinhua,May 11, 2018 Adjust font size:

CHICAGO, May 10 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural commodities closed mixed on Thursday in response to newly updated data of ending stocks.

The most active corn contract for July delivery fell 0.75 cent, or 0.19 percent to settle at 4.02 dollars per bushel. July wheat delivery went down 4 cents, or 0.78 percent to close at 5.065 dollars per bushel. July soybeans rose 5.5 cents, or 0.54 percent to settle at 10.2125 dollars per bushel.

The U.S. Department of Agriculture (USDA) released its May crop supply and demand report on Thursday.

In the report, the USDA put the U.S. 2017/18 corn ending stocks at 2.18 billion bushels, compared with the trade's average expectation of 2.170 billion bushels and the USDA's estimate in April of 2.182 billion bushel.

For wheat, the U.S. 2017/18 ending stocks were estimated at 1.070 billion bushels, compared with trade's estimate of 1.063 billion bushels and the USDA's April estimate of 1.064 billion.

USDA pegged the U.S. 2017/18 soybean ending stocks at 530 million bushels, compared with the trade's estimate of 544 million and the USDA's April estimate of 550 million.

Less-than-expected 2017/18 ending stocks for soybeans led to the rise of CBOT soybean futures, while the rising ending stocks for corn and wheat pushed down their prices. Enditem

 

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