CHICAGO, Feb. 2 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural futures closed mixed on Thursday, with corn falling and wheat and soybean rising.
The most active corn contract for March delivery fell 5.75 cents, or 0.84 percent, to settle at 6.7525 U.S. dollars per bushel. March wheat rose 1.25 cents, or 0.16 percent, to settle at 7.61 dollars per bushel. March soybean gained 14 cents, or 0.92 percent, to settle at 15.3425 dollars per bushel.
CBOT has all been about the flow of money since the start of the year with traders struggling with the back and forth of price.
Brazil's soybean export aggression will be felt for months to come. Russia is offering cheap wheat into April and will likely export 44-45 million metric tons. Chicago-based research company AgResource doubts that rallies in soybeans can be sustained.
The U.S. Department of Agriculture did not announce any new purchases of U.S. corn, soybeans and wheat in its daily reporting system.
U.S. weekly export sales for the week ending Jan. 26 were 5 million bushels of wheat, 63 million bushels of corn and 27 million bushels of soybeans. For respective crop years to date, the United States has sold 594 million bushels of wheat, down 6.4 percent year on year; 1,009 million bushels of corn, down 43 percent; and 1,736 million bushels of soybeans, up 5 percent.
Showers are exiting Eastern Argentina at noon. Argentina will endure 8-9 days of dry weather with heat returning early next week. Good news is that near to above normal rain is forecast in the 10-14 day period which should aid Argentine yields. Weather forecast for Brazil offers near to below normal rainfall across the North and improving rain chances for RGDS in Southern Brazil. The harvest will quicken into mid-February.
