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Chicago wheat down, corn and soybeans up

Wednesday, 17 September 2014



CHICAGO, Sept 16 (Xinhua) : Chicago agricultural commodities closed mixed yesterday with corn and soybeans rising, and wheat falling.
The most active corn contract for December delivery rose 4.5 cents, or 1.33 per cent, to close at 3.43 US dollars per bushel. November soybean rose 4.25 cents, or 0.43 per cent, to close at 9. 895 dollars per bushel. December wheat fell 1.75 cents, or 0.35 per cent, to close at 5.0075 dollars per bushel.
The market remained unexpectedly stable on Monday, spurring a modest short covering bounce. Soybeans and corn have rallied in thin trade.
Traders are waiting for the US Department of Agriculture's ( USDA) September Farm Program Participation report to be released Tuesday morning. In August, the report sparked a strong recovery.
The National Oilseed Processors Association (NOPA) report showed an August US soybean crush rate of 110.6 million bushels which is directly in line with last year, while US soyoil stocks fell sharply, which is considered supportive.
US export inspections for the week ending Sept. 11 were 29.2 million bushels of corn, 9.4 million bushels of soybeans and 20 million bushels of wheat.