Chicago Board of Trade (CBOT) agricultural futures closed mixed on Monday with wheat retreating following a more than three percent surge last Friday.
The most active wheat contract for December delivery fell 17.25 cents, or 2.98 percent to settle at 5.625 dollars per bushel. December corn went down 2.25 cents, or 0.59 percent to close at 3.765 dollars per bushel. November soybeans were up 0.5 cent, or 0.06 percent to settle at 8.9375 dollars per bushel.
Wheat futures, which had posted significant gains late last week due to falling global supply amid adverse weather conditions, gave back almost all gains on Monday.
CBOT traders reported that funds sold an estimated 8,000 contracts of wheat, 4,500 contracts of corn, and have bought a net 3,000 contracts of beans.
Soybeans continued to find support as U.S. traders hope to see progress on planned trade talks in Washington with China, top buyer of U.S. soybeans.
The most active wheat contract for December delivery fell 17.25 cents, or 2.98 percent to settle at 5.625 dollars per bushel. December corn went down 2.25 cents, or 0.59 percent to close at 3.765 dollars per bushel. November soybeans were up 0.5 cent, or 0.06 percent to settle at 8.9375 dollars per bushel.
Wheat futures, which had posted significant gains late last week due to falling global supply amid adverse weather conditions, gave back almost all gains on Monday.
CBOT traders reported that funds sold an estimated 8,000 contracts of wheat, 4,500 contracts of corn, and have bought a net 3,000 contracts of beans.
Soybeans continued to find support as U.S. traders hope to see progress on planned trade talks in Washington with China, top buyer of U.S. soybeans.
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