CHICAGO, June 22 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural futures settled mixed in the trading week ending June 21, on technical selling and export sales data.
The most active soybean contract for July delivery was up 6 cents, or 0.66 percent to close at 9.0275 U.S. dollars per bushel. July corn delivery was down 10.75 cents, or 2.37 percent to close at 4.4225 dollars per bushel. September wheat delivery was down 11.25 cent, or 2.12 percent to close at 5.3075 dollars per bushel.
Chicago wheat futures dipped in a profit-taking setback ahead of the weekend. Wheat prices were also pressured by worries over export demand as a recent rally has made U.S. supplies too pricey to generate overseas buying interest.
CBOT corn futures eased on profit-taking after climbing to a five-year high this week. The market remains underpinned by worries about U.S. production after excessive rains this spring.
Soybean futures remained underpinned by forecasts for more rain in the U.S. Midwest that could force farmers to curtail their soybean acreage as planting deadline approaches.
Export sales of corn plunged week on week, while soybeans saw a big increase, according to the weekly export sales report released by the U.S. Department of Agriculture (USDA).
Corn sales in the seven days that ended on June 13 totaled 38,400 metric tons, down 77 percent from the previous week and 90 percent from the prior five-year average, the USDA said in the report.
Algeria was the big buyer at 59,900 metric tons, followed by Yemen at 58,400 metric tons, and Japan at 38,700 metric tons. Mexico bought 31,600 metric tons, and Guatemala took 30,700 metric tons. An unknown customer canceled a cargo of 83,900 metric tons, and Indonesia nixed a shipment of 65,500 metric tons.
Sales for the 2019-2020 marketing year that starts on Sept. 1 were reported at 360,800 metric tons.
Soybean sales, meanwhile, jumped noticeably from the previous week to 571,500 metric tons last week, which was up 34 percent from the average for this time of year, the USDA said.
An unknown buyer topped the list at 141,400 metric tons, Egypt was in for 110,000 metric tons, the Netherlands took 82,600 metric tons, Japan was in for 56,600 metric tons, and Indonesia purchased 55,700 metric tons, according to the USDA.
In its Crop Progress Report released on Monday, the USDA pegged U.S. soybean planting at 77 percent complete as of Sunday, far behind the 93 percent average.
About 92 percent of U.S. corn was seeded as of Sunday, behind the 100 percent five-year average, the USDA said.
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