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CBOT wheat up, soybeans down on export trends
Last Updated: 2019-02-12 10:08 | Xinhua
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Chicago Board of Trade (CBOT) agricultural futures closed mixed on Monday, with only wheat posting gains thanks to rising export sales.

On Monday morning, the U.S. Department of Agriculture (USDA) confirmed that private exporters reported export sales of 248,000 metric tons of hard red winter wheat for delivery to Nigeria and Egypt during the 2018/2019 marketing year.

In its latest weekly export inspections report, USDA also indicated a rise of inspected wheat.

For the week ending Feb. 7, export inspections of U.S. wheat reached 562,307 metric tons, compared to 442,775 metric tons during the previous week.

However, weekly export inspections of U.S. soybeans and corn declined week on week.

A strengthened U.S. dollar also pressured CBOT grains and soybeans, which could become less competitive in international markets.

CBOT brokers estimated that funds sold on Monday 1,900 contracts of wheat, 3,100 contracts of corn, and 7,000 contracts of soybeans.

At the end of the session, the most active March wheat was up 1 cent, or 0.19 percent, to close at 5.1825 dollars per bushel. Corn contract for March delivery was down 1.5 cents, or 0.4 percent to settle at 3.7275 dollars per bushel. March soybeans were down 9.5 cents, or 1.04 percent, to close at 9.05 dollars.

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