Chicago Board of Trade (CBOT) agricultural commodities closed lower on Thursday, with wheat futures falling on expectations that U.S. wheat supplies will continue to struggle to gain traction on the global export market.
The most active corn contract for December delivery rose 1 cent, or 0.27 percent to close at 3.6625 U.S. dollars per bushel. December wheat delivery fell 8 cents, or 1.53 percent to close at 5.135 dollars per bushel. November soybean delivery went up 1.25 cents, or 0.15 percent to close at 8.3925 dollars per bushel.
CBOT corn futures edged slightly higher, with pressure from the wheat market and expectations for a massive U.S. crop counteracting any strength from bargain buying and short-covering.
Soybean futures also closed higher, but concerns about the ongoing trade tensions with major trade partners kept a lid on a rally.
As for weather forecast for agricultural crop, Tropical Storm Gordon made landfall near the Mississippi-Alabama border on Tuesday, which means rain, floods and storms for parts of the states into Arkansas for the next few days, according to the National Weather Service.
The most active corn contract for December delivery rose 1 cent, or 0.27 percent to close at 3.6625 U.S. dollars per bushel. December wheat delivery fell 8 cents, or 1.53 percent to close at 5.135 dollars per bushel. November soybean delivery went up 1.25 cents, or 0.15 percent to close at 8.3925 dollars per bushel.
CBOT corn futures edged slightly higher, with pressure from the wheat market and expectations for a massive U.S. crop counteracting any strength from bargain buying and short-covering.
Soybean futures also closed higher, but concerns about the ongoing trade tensions with major trade partners kept a lid on a rally.
As for weather forecast for agricultural crop, Tropical Storm Gordon made landfall near the Mississippi-Alabama border on Tuesday, which means rain, floods and storms for parts of the states into Arkansas for the next few days, according to the National Weather Service.
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