Chicago Board of Trade (CBOT) grains closed mixed on Tuesday, with soybean futures jumping one percent as investors bought back short positions amid extended forecasts for warm and dry weather in Argentina.
Wheat futures were narrowly lower and corn about flat at CBOT as volumes remained relatively light following Monday's Christmas holiday.
The most active corn contract for March delivery went up 0.75 cent, or 0.21 percent, to 3.5275 dollars per bushel. March wheat delivery fell 2.5 cents, or 0.59 percent, to 4.2225 dollars per bushel. March soybeans added 10.25 cents, or 1.07 percent, to 9.705 dollars per bushel.
CBOT brokers estimate that funds have bought 1,100 contracts of corn and 4,900 contracts of soybeans, while selling 1,200 contracts of wheat.
Funds have also bought 2,600 contracts of soyoil and 3,100 contracts of soymeal. Fund managers want to bank some profits knowing what their bonuses will amid less than certain South American weather.
Wheat futures were narrowly lower and corn about flat at CBOT as volumes remained relatively light following Monday's Christmas holiday.
The most active corn contract for March delivery went up 0.75 cent, or 0.21 percent, to 3.5275 dollars per bushel. March wheat delivery fell 2.5 cents, or 0.59 percent, to 4.2225 dollars per bushel. March soybeans added 10.25 cents, or 1.07 percent, to 9.705 dollars per bushel.
CBOT brokers estimate that funds have bought 1,100 contracts of corn and 4,900 contracts of soybeans, while selling 1,200 contracts of wheat.
Funds have also bought 2,600 contracts of soyoil and 3,100 contracts of soymeal. Fund managers want to bank some profits knowing what their bonuses will amid less than certain South American weather.
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