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U.S. soybean futures edge higher on export optimism

2019-11-05 06:50

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CHICAGO, Nov. 4 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural futures settled mixed on Monday, with soybean futures rising as traders are optimistic about crop export prospect.

The most active wheat contract for December delivery decreased 6.25 cents, or 1.21 percent, to settle at 5.0975 U.S. dollars per bushel. December corn was down 6 cents, or 1.54 percent, to settle at 3.8325 dollars per bushel. January soybeans increased 1.25 cents, or 0.13 percent, to 9.38 dollars per bushel.

Soybean futures were higher on optimism about the prospect for more overseas purchases. The market was also underpinned by technical buying.

Corn futures fell for the third straight session on Monday on forecasts for larger U.S. harvest yields and concerns about sluggish demand for U.S. export shipments of the grain.

Wheat futures declined as stiff competition in global export markets and a stronger U.S. dollar pressured prices.
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