DUBAI (Xinhua/APP): Chicago Board of Trade (CBOT) agricultural futures closed mixed on Friday, with corn and wheat falling and soybean rising.
The most active corn contract for December delivery fell 0.25 cents, or 0.05 percent, to settle at 4.88 US dollars per bushel. December wheat lost 10 cents, or 1.58 percent, to settle at 6.2175 dollars per bushel. November soybean rose 16 cents, or 1.17 percent, to settle at 13.8775 dollars per bushel.
CBOT wheat futures drop on a higher US dollar. Otherwise, US and global agricultural markets were steady to higher while Pro Farmer’s tour summary is awaited.
The risk that national soybean yield declines to or below 50 bushels per acre (BPA) and corn yield drops to 170-173 (BPA) is elevated. Chicago-based research company AgResource recommends end user buying on corrections over the next 10 days.
US exporters sold 121,000 metric tons of soybeans to China. Egypt was in private talks to secure additional wheat overnight, but no purchase was made. Spot cash milling wheat in India rallied another 0.03 dollars per bushel to 8.45 dollars.
An extended period of little to no rainfall is forecast for the Plains and the Midwest.
High pressure ridging eases south and westward this weekend or early next week, but resumes its position aloft the Central Plains and the Midwest in the 6-15 day period.