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​CBOT soybean futures settle higher on easing trade tensions

2018-05-16 09:29

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Chicago Board of Trade (CBOT) agricultural commodities settled higher on Tuesday, with soybean futures edging higher as the trade tensions between China and the United States showed signs of relaxation.

Corn futures rose, supported by concerns that rains in the U.S. Midwest will stall the tail end of planting. Wheat futures went up as traders turned to short-covering and bargain buying after a four-day losing streak.

The most active corn contract for July delivery rose 5.75 cents, or 1.45 percent to close at 4.0225 dollars per bushel. July wheat delivery added 2.25 cents, or 0.46 percent to close at 4.935 dollars per bushel. July soybean delivery went up 1 cent, or 0.1 percent to close at 10.1875 dollars per bushel.

CBOT brokers estimate that funds on Tuesday have sold 6,500 contracts of soybeans, bought 2,000 contracts of Chicago wheat and 1,500 contracts of corn.

Export inspections of the U.S. oil seeds for overseas delivery rose to 688,195 tonnes in the week that ended on May 10, the U.S. Department of Agriculture said in a report. That's up from 535,210 a week earlier and 285,013 tonnes during the same week in 2017.
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