Chicago Agriculture Commodities Finished Mixed
$CORN, $WEAT, $SOYB
Chicago Board of Trade (CBOT) agriculture grains futures finished mixed Monday with Soybean futures dipping to a new low since mid-April 201
Corn and Wheat futures continued to rise as a result of a recent projection that US farmers would plant less Corn, Wheat and switch to Soybean.
The most active Corn contract for May delivery rose 3.5 cent, or 0.96%, to 3.6775 bu.
May wheat delivery up 1.25 cents, or 0.29%, to 4.2775 bu.
May Soybean fell 7.75 cents, or 0.82%, to 9.3825 bu.
The US Department of Agriculture (USDA) reported last Friday that American farmers would plant less acres of Corn, Wheat and more of Soybean this year. The traders Monday obviously went on to respond to the projection.
Corn futures were also supported by the favorable US Midwest weather and potential for harvest delays in Argentina, said a senior market analyst with the Price Futures Group.
Meanwhile, the rise of Wheat futures, was partially due to Short covering