U.S. agricultural futures close mixed


By Xu Jing

CHICAGO, Oct. 26 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural futures closed mixed on Monday, with corn and wheat falling and soybean rising.

The most active corn contract for December delivery slipped 1.5 cents, or 0.36 percent, to close at 4.1775 U.S. dollars per bushel. December wheat fell 12.75 cents, or 2.02 percent, to settle at 6.2 dollars per bushel. January soybean rose 2.5 cents, or 0.23 percent, to close at 10.835 dollars per bushel.

CBOT agricultural futures were under pressure as the U.S. dollar moved higher and "risk off" occurred ahead of the U.S. election, Chicago-based research company AgResource noted.

Wheat prices were under pressure under wet weather forecasts for the Central U.S. Plains and the Southwest Russia.

U.S. Department of Agriculture (USDA) reported the sale of 129,700 metric tons of U.S. soybeans to an unknown buyer, rumored to be either a China or EU crusher. No U.S. corn export was reported.

U.S. weekly export inspections for the week ending Oct. 22 were 25.0 million bushels of corn, 97.9 million bushels of soybeans and 13.3 million bushels of wheat. China imported 58 million bushels or 60 percent of U.S. total soybeans export last week.

For respective crop years to date, the United States has exported 239.9 million bushels of corn, up 103 million bushels or 75 percent; 405.8 million bushels of wheat, up 15 million bushels or 4 percent; and 526.8 million bushels of soybeans, up 230 million bushels or 78 percent. The U.S. soybean export pace is likely to exceed 100 million bushels in the weeks ahead as China continues to actively load out prior purchases, AgResource noted.

A daily chance of rain exists across Brazil into Nov. 8. The moisture is quickening the pace of corn and soybean planting throughout South America.

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