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Chicago Agricultural Commodities Close Mixed-July 18
 

Chicago Board of Trade (CBOT) grains futures closed mixed on Tuesday as government data showed deteriorating crop condition ratings.

The most active corn contract for December delivery rose 2.75 U.S. cents, or 0.71 percent, to 3.9075 dollars per bushel. September wheat delivery edged down 2.25 cents, or 0.44 percent, to 5.0375 dollars per bushel. November soybeans went up 4.25 cents, or 0.43 percent, to 10.0175 dollars per bushel.

In its weekly Crop Progress Report released on Monday, the U.S. Department of Agriculture (USDA) dropped all the three crops' good-to-excellent ratings, indicating that hot and dry weather threatened yield potential.

With the good and excellent ratings from the USDA's crop condition report showing a 3 percentage decline and weather forecasts over the next two weeks pointing to extreme heat in many areas of the western Corn Belt, the corn futures posted gains on Tuesday.

The soybean followed corn's upturn, while wheat continued its downturn for the fifth consecutive session. CBOT floor brokers reported that funds kept selling winter wheat contracts.


(www.chinaview.cn 2017-07-19)
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