Markets > Futures

​Chicago agricultural futures settle mixed

2018-08-08 08:53

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Chicago Board of Trade (CBOT) agricultural commodities closed mixed on Tuesday, with soybean futures rising over 1 percent, following falls in U.S. corn, spring wheat and soybean crop ratings.

The most active corn contract for December delivery went down 0.75 cent, or 0.19 percent to close at 3.845 dollars per bushel. September wheat delivery fell 6.25 cents, or 1.09 percent to close at 5.6825 dollars per bushel. November soybean delivery added 12.25 cents, or 1.37 percent to close at 9.0575 dollars per bushel.

Wheat retreated after closing at a three-year high on Monday, weighed down by slow demand for U.S. exports despite expected crop shortfalls in several major exporting countries.

Corn eased along with wheat, although losses were limited by good demand and tightening global supplies.

About 67 percent of the soybean crop was rated good or excellent as of Sunday, according to the report released by U.S. Department of Agriculture(USDA) on Monday, down from 70 percent a week earlier and below forecasts for 69 percent.

Some 74 percent of the spring wheat crop earned top ratings, down from 78 percent a week earlier and missing expectations for 77 percent good to excellent.

Corn was 71 percent good or excellent, according to the U.S. government, down from 72 percent a week earlier, but in line with forecasts.
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