Chicago agricultural commodities close mixed

Chicago Board of Trade (CBOT) corn unchanged on Monday, wheat retreated a little, while soybeans extended gains.

The most active corn contract for July unchanged at 3.9175 dollars per bushel. July wheat delivery declined 0.75 cents, or 0.15 percent, to close at 4.8775 dollars per bushel. July soybeans advanced 14.00 cents, or 1.36 percent, to close at 10.4375 dollars per bushel.

Analysts said that soybeans advanced Monday on sharp gains of soybean meal, while weaker dollar also helped dollar-dominated soybeans.

Additionally, technical buying boosted soybean higher on Monday. CBOT floor brokers estimated that funds have bought 2,400 soybeans and 4,900 contracts of soybean meal, AgResource, the Chicago-based agriculture consultancy, reported Monday in its midday commentary.

Wheat retreated a little on Monday and analysts noted that beneficial rain in the coming days in U.S. Midwest has boosted growing optimism of winter wheat there.

Source: XINHUA