Chicago Board of Trade (CBOT) grains closed mixed on Thursday with soybean futures falling to a three-month low on pressure from improving crop weather in South America.
Wheat and corn futures both were the highest in more than a week, with prices notching narrow gains on better-than-expected U.S. export sales.
The most active corn contract for March delivery went up 2 cents, or 0.57 percent, to 3.5125 dollars per bushel. March wheat delivery added 3.5 cents, or 0.83 percent, to 4.27 dollars per bushel. March soybeans fell 5.5 cents, or 0.57 percent to 9.59 dollars per bushel.
CBOT brokers estimate that funds have bought 4,100 contracts of corn and 1,900 contracts of wheat, while selling 3,800 contracts of soybeans.
Much of the CBOT trade this week has been based on technical considerations with funds shedding about half of their length in soymeal, while going net short soybeans and soyoil. Funds are carrying a record large pre-Christmas short in corn, wheat and both grains have accordingly rallied.
Wheat and corn futures both were the highest in more than a week, with prices notching narrow gains on better-than-expected U.S. export sales.
The most active corn contract for March delivery went up 2 cents, or 0.57 percent, to 3.5125 dollars per bushel. March wheat delivery added 3.5 cents, or 0.83 percent, to 4.27 dollars per bushel. March soybeans fell 5.5 cents, or 0.57 percent to 9.59 dollars per bushel.
CBOT brokers estimate that funds have bought 4,100 contracts of corn and 1,900 contracts of wheat, while selling 3,800 contracts of soybeans.
Much of the CBOT trade this week has been based on technical considerations with funds shedding about half of their length in soymeal, while going net short soybeans and soyoil. Funds are carrying a record large pre-Christmas short in corn, wheat and both grains have accordingly rallied.
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