Soyabean futures on the Chicago Board of Trade were lower early on Wednesday, but losses were pared as the US dollar weakened. Earlier, traders took profits after a seven-day run-up in the front-month soyabean contract. Profit-taking and chart-based selling also were an early feature in wheat futures, but prices have since turned higher.
The spot wheat contract topped $8 a bushel on Tuesday - the first time in nearly five months. Spot corn prices were flat. Corn opened lower, but losses were less pronounced than in soyabeans and wheat. Ongoing concerns about hot and dry weather in Argentina limited corn's downside, traders said. CBOT trends at 10:48 am CST (1648 GMT) on Wednesday: March wheat up 1-1/2 cents at $7.99-1/2 per bushel. March corn flat at $6.23-1/4 per bushel. January soyabeans down 4-1/2 at $13.71-1/2 per bushel.
Comments
Comments are closed for this article.