Chicago Board of Trade (CBOT) agricultural futures closed mixed on Tuesday, with soybeans rallying over bargain buying after a double-digit decline in the previous session.
The most active December corn was down 1 cent, or 0.28 percent to close at 3.6125 dollars per bushel. March 2019 wheat was up 2 cents, or 0.39 percent to settle at 5.085 dollars. January 2019 soybeans were up 7.25 cents, or 0.83 percent to settle at 8.81 dollars per bushel.
Soybeans suffered more than two percent losses on Monday over uncertainty surrounding the U.S. trade relations with China. Bargain hunting reversed the downturn on Tuesday.
CBOT soybeans were also boosted by export sales. Private exporters on Tuesday reported to the U.S. Department of Agriculture a total sale of 123,567 metric tons of soybeans for delivery to unknown destinations during the 2018/19 marketing year.
Chicago wheat found support from a sharp year-on-year drop of Russian wheat inventory. Official data as of November 1 indicated 60 percent to 80 percent declines in wheat stocks in several Russian export hubs.
The most active December corn was down 1 cent, or 0.28 percent to close at 3.6125 dollars per bushel. March 2019 wheat was up 2 cents, or 0.39 percent to settle at 5.085 dollars. January 2019 soybeans were up 7.25 cents, or 0.83 percent to settle at 8.81 dollars per bushel.
Soybeans suffered more than two percent losses on Monday over uncertainty surrounding the U.S. trade relations with China. Bargain hunting reversed the downturn on Tuesday.
CBOT soybeans were also boosted by export sales. Private exporters on Tuesday reported to the U.S. Department of Agriculture a total sale of 123,567 metric tons of soybeans for delivery to unknown destinations during the 2018/19 marketing year.
Chicago wheat found support from a sharp year-on-year drop of Russian wheat inventory. Official data as of November 1 indicated 60 percent to 80 percent declines in wheat stocks in several Russian export hubs.
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