CHICAGO, July 22 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural futures settled lower on Monday, as forecasts of cooler weather in the U.S. Midwest eased concerns about crop yield losses.
The most active corn contract for December delivery was down 9 cents, or 2.07 percent to 4.2675 U.S. dollars per bushel. September wheat was down 15.25 cents, or 3.03 percent to 4.8725 dollars per bushel. November soybeans were down 13.5 cents, or 1.47 percent to 9.0575 dollars per bushel.
Last week's heat wave may have caused some damage to plants that had a shallow root system from being planted so late.
The hot weather has moved on and rainfall is expected in some parts of the U.S. Midwest, which should bring relief to crops.
Traders are also awaiting the U.S. Department of Agriculture weekly crop progress report. Expectations are for no changes in good to excellent ratings from last week.
Cooler U.S. Midwest weather with scattered rains pressured corn prices, and wheat futures retreated on technical selling and spillover pressure from lower corn.
Dealers said uncertainty about the ongoing trade talks between the United States and China continued to weigh on soybean prices. Enditem
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