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Chicago Agricultural Commodities Close Higher-May 24
 

Chicago Board of Trade (CBOT) grains futures closed higher on Wednesday with wheat futures trading slightly higher on light short-covering.

Corn and soybean futures were modestly firm in choppy trade as the market consolidated and traders squared positions ahead of a long U.S. holiday weekend.

The most active corn contract for July delivery rose 1.75 cents, or 0.47 percent, to 3.7125 dollars per bushel. July wheat delivery added 3 cents, or 0.7 percent, to close at 4.325 dollars per bushel. July soybeans stayed unchanged at 9.4825 dollars per bushel.

In the outside markets, the Brent crude oil market is 0.12 dollar per barrel lower, the U.S. dollar is lower, and the Dow Jones Industrials are 59 points higher.

Mike North, Commodity Risk Management Group analyst, says the markets are stuck in a trading range.

"The general reality of the market is that participants are torn between a timely planting progress and potential quality issues. That sets the stage for sideways trade inside a range," North says.


(www.chinaview.cn 2017-05-25)
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