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Chicago agricultural commodities settle mixed

​CHICAGO
2017-11-08 08:44

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Chicago Board of Trade (CBOT) grains closed mixed on Tuesday as investors continued to square positions ahead of Thursday's supply and demand report from the U.S. Department of Agriculture (USDA).

The most active corn contract for December delivery fell 0.25 cent, or 0.07 percent, to 3.4775 dollars per bushel. December wheat delivery declined by 3.5 cents, or 0.81 percent, to 4.2725 dollars per bushel. January soybeans went up two cents, or 0.20 percent to 9.96 dollars per bushel.

CBOT floor brokers reported that funds bought 3,500 contracts of soybeans while selling 4,400 contracts of corn and 2,500 wheat.

The USDA monthly crop report on Thursday is expected to confirm enlarged U.S. corn yields with a decline in the soybean crop estimate.

In parallel with the expectation, the CBOT corn futures continued its downturn for the second consecutive day and soybeans went on with gains.

As for Chicago wheat, the prices fell due to a firmer U.S. dollar, which would make it less competitive in international market. Profit-taking following a sharp rise in the previous session also played a role.
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