Chicago Agriculture Commodities Finished Mixed
$CORN, $WEAT, $SOYB
Chicago Board of Trade (CBOT) Corn settled higher Monday, Wheat and Soybeans fell to open this week.
The most active Corn contract for Jul delivery added 7 cents, or 1.65%, to close at 4.30 bu.
July Wheat delivery lost 3.75 cents, or 0.76%, to settle at 4.9125 bu.
Jul Soybean fell 9.25 cents, or 0.79%, to close at 11.69 bu.
Analysts noted that Corn advanced as hot and drier weather is forecast in the US Midwest and Southern Plains, prompting expectations that it may dent the progress of Corn there.
Meanwhile, Short covering also supported Corn Monday. According to a Chicago-based agriculture consultancy. CBOT brokers estimated that funds had bought 14,000 contracts of Corn before mid-day Monday.
Wheat settled lower for the 3rd trading day running Monday, and agriculture analysts noted that the US Wheat harvest started in some states in the US Midwest and Southern Plains, weighing on Wheat as new supplies will come to market.
Soybean retreated on profit-taking Monday after it reached near a 2-year high Friday, according to agriculture analysts.