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CBOT crop futures fall as rainfall eases dryness in U.S. Midwest
Last Updated: 2019-08-20 05:29 | Xinhua
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Chicago Board of Trade (CBOT) agricultural futures closed lower on Monday as weekend rains eased dryness in the crop growing Midwest and unsatisfactory export data weighed on market.

The most active soybean contract for November delivery was down 13.25 cents, or 1.51 percent to settled at 8.665 U.S. dollars per bushel. December corn was down 6.25 cents, or 1.64 percent to 3.745 dollars. December wheat was down 5 cents, or 1.05 percent to 4.725 dollars per bushel.

CBOT brokers estimated that fund sold 2,700 contracts of soybeans, 2,600 contracts of wheat and 3,200 contracts of corn.

CBOT corn had climbed more than 2 percent and soybeans 1 percent last Friday amid bargain hunting. Mild profit taking and beneficial rainfall in the U.S. Midwest during this past weekend dragged down their prices, said market watchers.

The U.S. Department of Agriculture (USDA) on Monday released its weekly grain inspection report. For the week ending Aug. 15, a total of 510,334 metric tons of exported corn was inspected or weighed, down from 719,810 metric tons from the previous seven days.

Meanwhile, USDA pegged inspected wheat for export at 488,905 metric tons, down from 710,633 metric tons during the previous week.

As for soybeans, 1,158,217 metric tons were inspected, up from last week's 944,872 metric tons. However, the accumulative total this marketing year as of August 15 reached 43.5 million metric tons, still lower than 54.6 million the same period last year. Enditem

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