Chicago Board of Trade (CBOT) grains closed lower on Wednesday, as investors squared up their positions ahead of a monthly U.S. Department of Agriculture crop report due on Thursday.
The most active corn contract for May delivery fell 1 cent, or 0.26 percent to close at 3.8725 dollars per bushel. May wheat delivery dropped 9.75 cents, or 1.92 percent to close at 4.9725 dollars per bushel. May soybeans went down 9.5 cents, or 0.88 percent to close at 10.6525 dollars per bushel.
CBOT brokers report that funds on Wednesday are flat in wheat, while buying 3,100 contracts of corn and selling 3,400 contracts of soybeans. In soy products, funds have sold 2,600 contracts of soymeal and 1,800 contracts of soyoil.
As for international market, Russia and Kazakhstan have signed a wheat supply agreement with Iran which includes the monthly purchase of 100,000 tons of wheat.
Iran is estimated to face a supply shortfall this year of 2-2.5 million tons of wheat, and this agreement will help them manage supplies or imports. Enditem
The most active corn contract for May delivery fell 1 cent, or 0.26 percent to close at 3.8725 dollars per bushel. May wheat delivery dropped 9.75 cents, or 1.92 percent to close at 4.9725 dollars per bushel. May soybeans went down 9.5 cents, or 0.88 percent to close at 10.6525 dollars per bushel.
CBOT brokers report that funds on Wednesday are flat in wheat, while buying 3,100 contracts of corn and selling 3,400 contracts of soybeans. In soy products, funds have sold 2,600 contracts of soymeal and 1,800 contracts of soyoil.
As for international market, Russia and Kazakhstan have signed a wheat supply agreement with Iran which includes the monthly purchase of 100,000 tons of wheat.
Iran is estimated to face a supply shortfall this year of 2-2.5 million tons of wheat, and this agreement will help them manage supplies or imports. Enditem
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