Chicago agricultural commodities drop on favourable weather

CHICAGO, July 22 (Xinhua) : Chicago agricultural commodities closed down Monday as forecasts of ideal weather continued triggering selling.
December corn fell 6.5 cents, or 1.72 per cent, to 3.72 US  dollars per bushel. November soybeans dropped 13.75 cents, or 1.27 per cent, to 10.715 dollars per bushel. September wheat lost 2.25 cents, or 0.42 per cent, to 5.3 dollars per bushel.
Mild and sunny weather, which bolstered expectations of bumper harvest, pressured corn and beans. Analysts believed that as long as the crop-friendly weather continued in major grain producers, such as the United States, Russia and China, the market is going to be bearish.
Weekly export inspections showed totaled 37 million bushels of corn, unchanged from the previous week, 18.9 million bushels wheat, up 4.7 million, and 3.6 million bushels of soybeans, down one million from last week. The United States shipped 1.615 billion bushels of corn, 119 million bushels of wheat, and 1.577 billion bushels soybeans during 2013-2014 marketing year.