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Chicago Agricultural Commodities Settle Lower-March 22
 

Chicago Board of Trade (CBOT) grains futures closed lower on Wednesday following an uneventful session as bearish atmosphere continued to hang over the markets.

The most active corn contract for May delivery declined 2.5 cents, or 0.69 percent, to 3.5875 dollars per bushel. May wheat delivery went down 4.25 cents, or 1 percent to 4.2225 dollars per bushel. May soybeans fell 1.75 cents, or 0.17 percent, to 9.9975 dollars per bushel.

Soybeans remain pressured buy record-high harvest in South America. Analysts noted that even if some production for Brazil were possibly overestimated, it's still doubtless the crop is big.

Wheat futures at European markets have fallen to a seven-week low on Wednesday, while the Chicago wheat skidding to its lowest level since the beginning of February. Abundant supplies, favorable weather forecasts for wheat-growing southern plains in the U.S. have contributed to the decline.

Corn kept its down-turn on Wednesday as rain forecasts would benefit the development of Brazilian corn.

Weak energies, weak equities, and weak South American cash markets have also combined to weigh on U.S. agricultural futures, noted the Chicago-based AgResource company.


(www.chinaview.cn 2017-03-23)
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