CHICAGO, Sept. 1 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural futures closed mixed on Friday, with corn and soybean rising and wheat falling.
The most active corn contract for December delivery rose 3.25 cents, or 0.68 percent, to settle at 4.815 U.S. dollars per bushel. December wheat fell 6.5 cents, or 1.08 percent, to settle at 5.955 dollars per bushel. November soybean gained 0.5 cents, or 0.04 percent, to settle at 13.6925 dollars per bushel.
CBOT grain futures are higher in U.S. pre-holiday trade. It is a new month and a new crop year as the U.S. 2023-2024 crop year starts on Sept. 1. Weather in South America and Australia starts to play roles in world grain pricing as their new production season starts. China has been a record large buyer of world soybeans, corn and barley. Chicago-based research company AgResource holds that world wheat and feed prices are near seasonal lows.
The U.S. Department of Agriculture announced that another 198,000 metric tons of U.S. soybeans were sold to an unknown destination.
RGDS, Brazil, reported that its soybean farmers planned to expand their 2023 soybean seeding by 1.5 percent from last year.
An extended period of little to no rainfall with above normal temperatures is forecast across the Plains, the Midwest and the Delta areas. High pressure ridging holds across the Central United States into late next week with record heat forecast on the weekend and Monday. AgResource forecast a decline of 2-3 percent in U.S. corn and soybean ratings. ■
