Chicago Agriculture Commodities Finished Lower
$CORN, $WEAT, $SOYB
Chicago Board of Trade (CBOT) agriculture grains futures finished lower Monday with Wheat declining for the 4th session running
The most active Corn contract for December delivery dropped 1.5 cents, or 0.39%, to 3.88 bu.
September Wheat delivery went down 4.75 cents, or 0.93% to 5.06 bu.
November Soybean slid 4 cents, or 0.4%, to 9.975 bu.
CBOT brokers estimated that funds bought 5,600 contracts of Corn and 3,600 contracts of Soybean, while being flat Wheat.
Rains across areas of a main US Wheat producing region added pressure on its prices, following trend of below normal rainfall and above normal temperatures these days, said agriculture analysts.
With Russia’s wheat production estimates keeping rising, the European Wheat prices also fell on Monday in the wake of US markets.
Both Corn and Soybean futures posted more than 1% gainers last Friday. Profit-taking played a role in their declines Monday.