U.S. agricultural futures close mixed


By Xu Jing
  • World
  • Thursday, 06 Oct 2022

CHICAGO, Oct. 5 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural futures closed mixed on Wednesday, with corn rising and wheat and soybean falling.

The most active corn contract for December delivery rose one cent, or 0.15 percent, to settle at 6.84 U.S. dollars per bushel. December wheat fell one cent, or 0.11 percent, to settle at 9.02 dollars per bushel. November soybean shed 13.75 cents, or 0.99 percent, to settle at 13.6975 dollars per bushel.

Global cash markets stay weak with trade reduced on the slowing world economic outlook. The U.S. Department of Agriculture's World Agricultural Supply and Demand Estimate report will be released next week. Chicago-based research company AgResource suggests selling December corn above 7.00 dollars and Kansas December wheat above 10.40 dollars.

Russia has announced that its wheat production will grow by 5 million metric tons annually.

Tunisia purchased Russian wheat. Russian wheat continues to capture world wheat demand amid its attractive price. U.S. wheat is overvalued in world wheat trade.

The key crop-growing regions of the Midwest and the Plains stay in a below normal rainfall trend. Frosty temperatures will occur Friday and the weekend with warming next week. An open window for harvest persists.

Article type: free
User access status:
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!
   

Next In World

EDF ups nuclear power after glitch turns out Paris lights
Russian state media lauds Putin's 'win' on Bout exchange
Vietnam vessel saves 154 Rohingya from sinking boat, transfers to Myanmar navy
Pakistani journalist's killing in Kenya a pre-meditated murder -report
French President Emmanuel Macron slams TikTok algorithm over censorship, ‘addiction’
Indonesia's new laws a threat to privacy, press and human rights, says UN
German lawmakers want security review after failed coup plot
Man tries to sell stolen bike rack on Facebook – to its owner who showed up with cops
Explainer-Why did past targets to protect nature fail over the last decade?
As Indians take up online games, gambling fears grow

Others Also Read