U.S. Agricultural Futures Close Mixed

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

CHICAGO, Oct. 27 (UrduPoint / Pakistan Point News - 27th Oct, 2021 ) --:Chicago board of Trade (CBOT) agricultural futures closed mixed on Tuesday, with corn and soybean rising and wheat slipping.

The most active corn contract for December delivery rose 5.5 cents, or 1.02 percent, to settle at 5.435 U.S. Dollars per bushel. December wheat fell 7.25 cents, or 0.95 percent, to settle at 7.5225 dollars per bushel. January soybean gained 0.5 cents, or 0.04 percent, to settle at 12.475 dollars per bushel.

Corn leaped to fresh weekly highs on strengthening U.

S. ethanol prices amid the ongoing advance in world energy prices, Chicago-based research company AgResource noted. December corn now trades near the 100-day moving average at 5.465 dollars.

Rising energy values and inflation are in the background of CBOT prices which produces buying on breaks. Margins for ethanol producers and soybean crushers are near record highs. AgResource holds a seasonal rally is underway that should top in early 2022, with March corn futures likely rising above 6 dollars for a winter seasonal high.