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12/06/2013

Chicago agricultural commodity futures market

Chicago agricultural commodity futures were traded lower on Thursday over reports of sluggish export.

 

The most active corn contract for March delivery fell 3 cents, or 0.69 percent, to 4.335 dollars per bushel. March wheat decreased 9.75 cents, or 1.47 percent, to 6.52 dollars per bushel. January soybeans lost 1.5 cents, or 0.11 percent, to 13.28 dollars per bushel.

 

Concerns over dwindling demand from China, combined with sluggish weekly sales, helped pressure the corn market. Meanwhile, March wheat saw significant follow-through selling after Canada estimated record high wheat production, pushing down the prices to its lowest level since Sept. 16.

 

Weekly export sales for soybeans came in at 805,200 tonnes for the current marketing year and 355,600 for the next, for a total of 1.16 million tonnes, which is in line with expectation, according to the U.S. Department of Agriculture.



    Editor:Annabelle | Source: Agencies


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