U.S. Agricultural Futures Close Mixed

Chicago Board of Trade (CBOT) agricultural futures closed mixed on Saturday, with corn dropping and wheat and soybean rising

CHICAGO, (UrduPoint / Pakistan Point News - 17th Jul, 2021 ) --:Chicago board of Trade (CBOT) agricultural futures closed mixed on Saturday, with corn dropping and wheat and soybean rising.

The most active corn contract for December delivery fell 4.25 cents, or 0.76 percent, to settle at 5.52 U.S. Dollars per bushel. September wheat rose 20.5 cents, or 3.05 percent, to settle at 6.925 dollars per bushel. November soybean gained 11.75 cents, or 0.85 percent, to settle at 13.9175 dollars per bushel.

Wheat extends its bull run on Russian yield downgrades, the Chicago-based research company AgResource noted.

Spring wheat has scored new rally highs as model guidance has extended warmth and complete dryness in southern Canada into July 26.

China bought 134,000 tons of U.S. soft red winter (SRW) wheat.

Massive logistical issues will continue to plague Argentina, with Paraguay declaring low river levels as a state of emergency.

Weather forecast shows it is drier across Minnesota and the Central Midwest. Excessive warmth is returning to the Central and Northern Plains next Tuesday to Friday. A cooler but very dry pattern will evolve across the Central and Eastern Midwest beyond the next 48 hours.