Chicago agricultural commodity futures market closes mixed
Sunday, 6 October 2013
CHICAGO, Oct 5 (Xinhua): Chicago agricultural commodity futures market closed mixed yesterday, with corn and soybean rising and wheat slipping.
The most active corn contract for December delivery rose 4 cents, or 0.91 percent, to close at 4.4325 dollars per bushel. December wheat slipped 2.25 cents, or 0.33 percent, to close at 6.87 dollars per bushel. November soybeans gained 6.75 cents, or 0.52 percent, to close at 12.95 dollars per bushel.
December corn closed higher Friday on market talk about higher yields in the past several weeks. A strong soybean market also triggered some late buying and short- covering on corn market.
December wheat traded slightly lower Friday under selling pressure. Agriculture Canada put its wheat production at a record high of 33 million tonnes. Talk of overbuying on wheat market and a bounce in the U.S. dollar further dampened wheat.
November soybean rose slightly Friday on a slowdown in harvest early next week. Traders believed about 20 percent of harvest had been completed. Meanwhile, soybean market remained firm in U.S. driven by crush demand and an extensive export lineup.