CBOT wheat recovers from five-session decline

0 Comment(s)Print E-mail Xinhua, April 12, 2019
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CHICAGO, April 11 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural futures traded mixed on Thursday morning, with wheat rising over short covering and bargain buying.

As of 1537 GMT, the most active wheat contract for May delivery was up 2.75 cents to 4.6075 U.S. dollars per bushel. May corn was down 0.5 cent to 3.6125 dollars per bushel. May soybeans were down 5 cents to 8.97 dollars per bushel.

CBOT wheat had posted losses in five straight sessions under the pressure of ample supplies and fierce export competition. Short covering and bargain buying pushed up wheat futures on Thursday morning, said market watchers.

The U.S. Department of Agriculture on Thursday morning released its latest weekly export sales report for the period of March 29 - April 4. The net soybean sales of 270,400 metric tons for 2018/19 marketing year were down 86 percent from the previous week and 76 percent from the prior four-week average. The downbeat data dragged down soybean prices. Enditem

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