Chicago agricultural commodities settle lower

CHICAGO, Oct. 11 (Xinhua) -- Chicago Board of Trade (CBOT) grains futures closed lower on Wednesday with corn posting nearly 1 percent loss over high yield anticipation.

The most active corn contract for December delivery fell 3.25 cents, or 0.93 percent, to 3.46 dollars per bushel. December wheat delivery went down 2 cents, or 0.46 percent, to 4.3325 dollars per bushel. November soybeans lost 0.75 cent,or 0.08 percent, to 9.6525 dollars per bushel.

CBOT floor brokers reported that funds sold 4,000 to 5,000 contracts of corn and 4,000 contracts of wheat, while buying 800 contracts of soybeans.

The U.S. Department of Agriculture (USDA) is to release its monthly supply and demand report on Thursday, and many investors now expect high yield estimates of corn, despite that rains slowed down harvest in the U.S. Midwest.

Soybeans followed corn futures, but only recorded moderate losses due to still high export demand.

Wheat futures went down as a result of technical selling, said analysts.

All the agricultural commodities have suffered losses in the past three consecutive sessions.

[ Editor: meng ]


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