CHICAGO, Dec. 22 -- Chicago Board of Trade (CBOT) agricultural futures closed lower in the trading week which ended Dec. 21, with soybeans falling slightly despite new purchases from China.
The most active contract for March soybeans were down 2.75 cents weekly, or 0.31 percent, to 8.9775 dollars per bushel. March wheat dropped 16 cents, or 3.02 percent, to 5.14 dollars per bushel. March corn went down 6.25 cent, or 1.62 percent, to 3.785 dollars per bushel.
Private exporters on Thursday reported to the U.S. Department of Agriculture (USDA) new export sales of 204,000 metric tons of soybeans for delivery to China, following 1.199 million metric tons to the same destination this week.
China bought 1.43 million metric tons of U.S. soybeans last week, according to the USDA. Traders had anticipated that China would buy more soybeans, market watchers said.
CBOT soybeans were also under pressure from abundant supply from South America, overshadowing support from renewed Chinese buying of U.S. supplies.
As weather turns more favorable and the harvest underway in South America, another top world soybean exporter Brazil is ready to arrange shipments for overseas buyers.
In its latest crop report, the U.S. Department of Agriculture estimated Brazilian soybeans production at 122.0 million metric tons in December, up 1.5 million metric tons from November.
CBOT corn futures fell over 6 cents along with soybeans as Chinese demand was lacking and as U.S. ethanol margins sink further into the red. Domestic U.S. corn use in the USDA's January report will be lowered another 25 million bushels.
Even blend margins have collapsed, and there's just very little profit incentive for the biofuel industry at present.
Wheat futures ended lower following a sizable sell-off Friday. The meeting between Russian exporters and government officials yielded little new information.
In the meantime, Russia raised its grain export forecast and dampened speculation that tight supplies would prompt curbs on overseas shipments from the world's biggest wheat supplier.
国内英语资讯:Xi Jinping, Kim Jong Un hold talks in Dalian
体坛英语资讯:Dalian Yifang stunned Guangzhou Evergrande 3-0 in CSL
国内英语资讯:Marxs theory still shines with truth: Xi
国内英语资讯:China, ASEAN agree to promote economic cooperation, push forward RCEP
美国宣布对中兴通讯实施禁令
一年来我什么都没买
体坛英语资讯:Tianjin Teda smash Guizhou Hengfeng 5-1 in CSL
体坛英语资讯:Chinas Ding crashes out at snooker worlds quarterfinals
体坛英语资讯:Australias Chloe Esposito wins gold at Modern Pentathlon World Cup
国际英语资讯:Rebels evacuate Syrias Homs, Hama countryside
《后来的我们》:最美的10句台词,以及英译
Fishermen fear oil drilling in African lake 渔民担心石油开采对非洲湖泊的影响
一眼识人,如何看清人的本性
体坛英语资讯:Rafinha future depends on Inter Milan
体坛英语资讯:WADA generally satisfied with PyeongChang 2018 doping control arrangements
李克强在中国-印尼工商峰会上的主旨演讲
内蒙古集宁一中(西校区)2017-2018学年高二下学期第二次月考英语试卷
国内英语资讯:Chinese FM, DPRK top leader discuss ties, issues on Korean Peninsula
体坛英语资讯:Neymar returning to Paris to finalize recovery
一周热词榜(4.28-5.4)
国内英语资讯:Top legislature to inspect on implementation of infectious diseases prevention law
国内英语资讯:China Focus: After the quake: 10 years on volunteerism thrives
体坛英语资讯:Brazil to decide Dani Alves World Cup availability by weekend
国内英语资讯:Chinese premier arrives in Tokyo for official visit, China-Japan-ROK leaders meeting
脸书泄露门后续:始作俑者宣布破产!
国内英语资讯:China launches new Earth observation satellite for environmental monitoring
Bunker mentality?
体坛英语资讯:USM Bel Abbes win Algeria Cup
体坛英语资讯:10-man Barcelona draw 2-2 against Real Madrid
国内英语资讯:China Focus: For translators, Marxist works a lifetime labor of love