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​Chicago agricultural commodities lower in morning trade

Xinhua Financein CHICAGO
2018-06-12 08:48

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Chicago Board of Trade (CBOT) agricultural commodities traded lower Monday morning on favorable weather for crops, as traders are awaiting Tuesday's governmental monthly crop report.

July corn was 2.00 cents lower at 3.7545 U.S. dollars per bushel as of 1230 GMT, July wheat was 2.5 cents lower at 5.175 dollars, July soybean was down 1.75 cents at 9.6725 dollars.

Corn and soybeans were slightly lower mostly amid favorable weather conditions in the U.S. Midwest.

Rainfall is expected in parts of Iowa and Nebraska throughout the week along with high temperatures, which should help recently emerged crops.

In parts of Iowa and Illinois, however, the precipitation may not be overly welcome as flooding is a risk in some counties.

The U.S. Department of Agriculture (USDA) said last week that about three fourths of the U.S. corn and soybean crops were in good or excellent condition.

Fund managers sharply decreased their bets on higher prices for corn and soybeans last week, according to the Commodity Futures Trading Commission of USDA.
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