Chicago Board of Trade (CBOT) grains futures closed mixed on Monday with wheat futures turning lower on forecasts for crop-boosting rains in some areas of Brazil and as technical selling and month-end positioning weighed on the market.
Corn was steady and wheat futures fell for a fourth straight session, with some wheat contract months hitting fresh contract lows. Prices for both grains were anchored by plentiful global supplies.
The most active corn contract for December delivery stay unchanged at 3.535 dollars per bushel. December wheat delivery fell 2.5 cents, or 0.59 percent, to 4.2475 dollars per bushel. January soybeans fell 2 cents, or 0.2 percent, to 9.845 dollars per bushel.
In the outside markets, the Brent crude oil market is 0.22 dollar higher, the U.S. dollar is lower, and the Dow Jones Industrials are 75 points lower.
Kluis Commodities analyst Al Kluis says the markets will be reacting to this week's U.S. harvest progress and South America's soybean planting weather.
"The rainfall this far in central and eastern Brazil has underperformed, and it has been hotter than normal. The forecast is for more rain later this week," Kluis stated in a daily note to customers.
Corn was steady and wheat futures fell for a fourth straight session, with some wheat contract months hitting fresh contract lows. Prices for both grains were anchored by plentiful global supplies.
The most active corn contract for December delivery stay unchanged at 3.535 dollars per bushel. December wheat delivery fell 2.5 cents, or 0.59 percent, to 4.2475 dollars per bushel. January soybeans fell 2 cents, or 0.2 percent, to 9.845 dollars per bushel.
In the outside markets, the Brent crude oil market is 0.22 dollar higher, the U.S. dollar is lower, and the Dow Jones Industrials are 75 points lower.
Kluis Commodities analyst Al Kluis says the markets will be reacting to this week's U.S. harvest progress and South America's soybean planting weather.
"The rainfall this far in central and eastern Brazil has underperformed, and it has been hotter than normal. The forecast is for more rain later this week," Kluis stated in a daily note to customers.
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