CHICAGO, Sept. 22 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural futures closed mixed on Tuesday with corn and soybean falling and wheat rising.
The most active corn contract for December delivery fell 0.5 cents, or 0.14 percent, to close at 3.6925 U.S. dollars per bushel. December wheat rose 3.25 cents, or 0.59 percent, to settle at 5.58 dollars per bushel. November soybean lost 2.75 cents, or 0.27 percent, to close at 10.1975 dollars per bushel.
Corn market has lagged the wheat rally on better than expected yield reports, while the large long position held by fund managers failed to push soybean futures up as fresh China demand from Sinograin is less certain, Chicago-based research company AgResource noted.
U.S. Department of Agriculture (USDA) confirmed sale of 266,000 metric tons of soybeans to an unknown buyer and another 264,000 metric tons to China. China booked 140,000 metric tons of U.S. corn. China's purchase pace shows no sign of abating, AgResource noted.
The remains of tropical storm Beta will shift slowly east and north and produce showers and storms over the Gulf States. The remainder of the Central U.S. will stay dry on the weekend. The southward sinking jet increases rain chances across the Lake States with cooler temps settling southward.
China's Sinograin is nearing an end of its reserve purchase program. However, Chinese crushers have needs to cover into early 2021, AgResource noted. Enditem
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