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Friday, January 09, 2015, Poush 26, 1421, Robiul Awal 17, 1436 Hijr

Chicago agri commodities closed mixed
Published : Friday, 9 January, 2015,  Time : 12:00 AM,  View Count : 11

CHICAGO, Jan 8: Chicago Board of Trade agricultural commodities closed mixed with corn and wheat falling, and soybeans rising.
The most active corn contract for March delivery fell 8.75 cents, or 2.16 per cent, to close at 3.9625 U.S. dollars per bushel. Soybeans for March delivery added 0.5 cents, or 0.05 per cent, to close at 10.5625 dollars per bushel. Wheat for March delivery lost 12.25 cents, or 2.07 per cent, to close at 5.795 dollars per bushel.
Corn and wheat fell while soybeans have traded both positive and negative. Funds have been sellers of the grains and buyers of soybeans. Analysts believed this is in reaction to the attempts made by crude oils to stabilize.
Analysts said the larger Index Funds will start rebalance after the market closes on Wednesday. The rebalance is expected to last five business days with funds net buyers of soybeans, and sellers of the grains.
The weekly U.S. Department of Agriculture report was bearish for ethanol and corn. Weekly U.S. ethanol production was 949,000 barrels per day, 2.5 per cent less than last week. Analysts believe U.S. ethanol production will slow as profit margins fall.
The weather forecast is positive with no extreme heat noted and flood waters in South America receding, and analysts believed that the harvest will return in full swing.    ?Agencies

Editor : Iqbal Sobhan Chowdhury
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