U.S. Agricultural Futures Fall

U.S. agricultural futures fall

Chicago Board of Trade (CBOT) agricultural futures fell across the board on Tuesday, led by soybean

CHICAGO, Sept. 21 (UrduPoint / Pakistan Point News - 21st Sep, 2021 ) --:Chicago Board of Trade (CBOT) agricultural futures fell across the board on Tuesday, led by soybean.

The most active corn contract for December delivery fell 5.5 cents, or 1.04 percent, to settle at 5.2175 U.S. Dollars per bushel. December wheat shed 8 cents, or 1.13 percent, to settle at 7.0075 dollars per bushel. November soybean lost 21.5 cents, or 1.67 percent, to settle at 12.625 dollars per bushel.

CBOT agricultural futures traded lower with soybean showing the biggest losses.

Corn and wheat futures were following. Nevertheless, the losses were limited by strong world cash markets, Chicago-based research company AgResource noted.

Next week's September Stocks report for corn/wheat should confirm tightening U.S. supplies, and China will be back from holiday late Tuesday with new buying for U.S. soybeans. AgResource is expecting a turnaround Tuesday, and stays bullish of CBOT corn, wheat, and soybeans, holding that key support for November soybeans is at 12.5 dollars to 12.6 dollars.