Markets > Commodities

CBOT agricultural futures settle lower

2019-08-02 06:51

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CHICAGO, Aug. 1 (Xinhua) -- Chicago Board of Trade (CBOT) futures settled lower on Thursday, with wheat futures falling over 2 percent on a more favorable weather outlook in the U.S. Midwest.

The most active corn contract for December delivery was down 7.5 cents, or 1.83 percent to 4.025 U.S. dollars per bushel. September wheat declined 11.5 cents, or 2.36 percent to 4.7575 dollars per bushel. November soybeans decreased 16.25 cents, or 1.84 percent to 8.6525 dollars per bushel.

Wheat futures eased on technical selling after the benchmark CBOT September soft red winter wheat contract hit resistance at its 100-day moving average in the previous session.

U.S. private traders exported 383,000 metric tons of wheat to overseas market as of July 25, according to the weekly export sales report released Thursday by the U.S. Department of Agriculture (USDA).

Corn futures were pressured by poor export demand, good weather for crop development in U.S. Midwest.

U.S. corn export sales totaled 272,600 metric tons, below forecasts for 300,000 to 850,000 metric tons, according to the USDA.

Soybean futures closed at their lowest levels in over a month, as concerns over trade talks between the United States and China and good U.S. growing weather limited buying opportunities.

USDA said that export sales of soybeans totaled 448,600 metric tons as of July 25. Analysts had been expecting soy export sales in a range from 100,000 metric tons to 700,000 metric tons. Enditem

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