Chicago agricultural commodity futures were traded mixed Monday, with corn and wheat prices going down while soybeans price rising amid potential demand from China.

The most active corn contract for December delivery fell 1 cent, or 0.23 percent, to close at 4.2625 dollars per bushel. December wheat lost 5 cents, or 0.75 percent, to settle at 6.6275 dollars per bushel. January soybeans rose 5 cents, or 0.40 percent, to close at 12.565 dollars per bushel.

According to Chicago Mercantile Exchange, December corn was trading down 1 cent into the mid-session and pushed down into new three-year lows. Strong market demand has not helped provide much support for the market recently with a focus on supply.

December wheat was trading lower. The active speculative selling drove the market down to the lowest level since Sept. 25 by mid-session. Weakness in corn and speculation that the demand for U.S. wheat could have taken a hit since the rally to wheat prices recently helped to pressure.

January soybeans were trading up. Thoughts that China continues to be an active buyer of U.S. soybeans, positive economic news from China overnight and ideas that the market is oversold after last week's sharp set-back to the 21-month lows helped to support. Endi

Go to Forum >>0 Comment(s)