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Stronger U.S. dollar pressures Chicago grains prices

CHICAGO
2017-10-28 10:12

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Chicago Board of Trade (CBOT) grains closed mixed on Friday as a stronger dollar made U.S. wheat and corn less competitive.

The most active corn contract for December delivery fell 1.75 cents, or 0.50 percent, to 3.4875 dollars per bushel.

December wheat delivery went down 4.50 cents, or 1.04 percent, to 4.2725 dollars per bushel. November soybeans rose 4 cents, or 0.41 percent to 9.7525 dollars per bushel.

The euro' s rate has went down to about 1.16 U.S. dollars after Catalonia' s parliament announced to secede from Spain' s central government. The deepened crisis has led to the devaluation of the euro, which makes European wheat more competitive.

The future prices of Paris wheat rose on Friday while the Chicago wheat plunged by more than 1 percent.

The CBOT corn followed the wheat' s downturn, but soybeans were boosted by upbeat export sales.

On Friday, the U.S. Department of Agriculture announced fresh export sales, including 238,000 metric tons of soybeans for delivery to China.
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