CHICAGO, June 23 (Xinhua) -- Chicago Board of Trade (CBOT) grains futures closed mixed Friday with corn and wheat closing lower while soybean ending higher.

The most active corn contract for July delivery fell 5 cents, or 1.38 percent, to 3.5775 dollars per bushel. September wheat delivery declined by 1.75 cents, or 0.37 percent, to close at 4.735 dollars per bushel. July soybeans rose 0.5 cents, or 0.06 percent, to 9.045 dollars per bushel.

Soybean futures began to pare losses and posted gains as dealers turned to short-covering ahead of the weekend and a U.S. Department of Agriculture quarterly stocks and U.S. acreage report due on June 30.

Cooler temperatures were forecast during the next week for developing corn and spring wheat crops in the U.S. Midwest and northern Plains. A widespread rain event was also predicted around the end of the month, according to Commodity Weather Group.

This favorable weather kept additional pressure on corn and wheat futures, which posted losses for five consecutive sessions.

CBOT floor brokers report that funds have bought 1,800 contracts of wheat while selling 5,000 contracts of corn and 4,600 contracts of soybeans. In soy products, funds are flat in soyoil and soymeal. Enditem

Go to Forum >>0 Comment(s)