Chicago agricultural commodities settle lower

2017-07-17 22:15:36 GMT2017-07-18 06:15:36(Beijing Time) Xinhua English

CHICAGO, July 17 (Xinhua) -- Chicago Board of Trade (CBOT)grains futures closed lower on Monday with wheat declining for thefourth consecutive session.

The most active corn contract for December delivery dropped 1.5cents, or 0.39 percent, to 3.88 dollars per bushel. September wheatdelivery went down 4.75 cents, or 0.93 percent to 5.06 dollars perbushel. November soybeans slid 4 cents, or 0.4 percent, to 9.975dollars per bushel. CBOT brokers estimated that funds bought 5,600contracts of corn and 3,600 contracts of soybeans, while being flatin wheat.

Rains across areas of a main U.S. wheat producing region addedpressure on its prices, following trend of below normal rainfalland above normal temperatures these days, said analysts.

With Russia's wheat production estimates keeping rising, theEuropean wheat prices also fell on Monday in the wake of U.S.markets.

Both corn and soybean futures had posted more than one percentgains last Friday. Profit-taking played a role in their declines onMonday. Enditem

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