Finance News

CBOT agricultural futures settle mixed amid USDA report

Chicago Board of Trade (CBOT) agricultural futures closed mixed on Thursday after the U.S. Department of Agriculture (USDA) released its monthly supply and demand estimates report.
The most active December corn was up 1.25 cents, or 0.34 percent to close at 3.735 dollars per bushel. December wheat was down 2.5 cents, or 0.49 percent to settle at 5.0775 dollars.
January 2019 soybeans are down 0.5 cent, or 0.06 percent to settle at 8.79 dollars per bushel.
The USDA lowered its estimate for U.S. corn production and indicated smaller ending stocks, thus pushed up CBOT corn prices.
Official data also showed a lowered outlook for soybean production but increased its estimates for ending stocks, due to decreased export sales. As a result, soybean prices stayed under rising pressure.
CBOT wheat also posted losses, after the USDA report noted increasing world end stocks.
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