Chicago Agriculture Commodities Finished Mixed
$CORN, $WEAT, $SOYB
Chicago Board of Trade (CBOT) agriculture grains futures finished mixed Tuesday with wheat prices rebounding following a 3-consecutive-day decliner.
The most active Corn contract for December delivery fell 2 cents, or 0.57%, to 3.495 bu.
December Wheat delivery rose 3.25 cents, or 0.73%, to 4.48 bu.
November Soybean went down two cents, or 0.21%, to 9.5525 bu.
The Corn and Soybean futures had posted gains last Friday when a Quarterly report released by the US Department of Agriculture (USDA) put both stocks below average trade estimates.
However, the on-going harvests of US Corn and Soybean pressure their prices, which are usually at seasonal low.
Wheat futures, which suffered losses for 3 sessions running due to last Friday’s negative stocks report, rallied Tuesday.
Egypt reported that it purchased 3 cargoes of Wheat from Russia Tuesday at an average FOB price of 199.o per tonne, 2.0 higher than an average price 2 weeks ago.
Along with the recent rally in Black Sea grain quotes, the price increases in world Wheat market gave additional support to the CBOT Wheat futures.
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