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Thursday, August 6, 2015, Shraban 22, 1422 BS, Shawal 20, 1436 Hijr


World Market and Commodity News
Chicago Agri commodities rebound
Published :Thursday, 6 August, 2015,  Time : 12:00 AM  View Count : 8
CHICAGO, Aug 5: Chicago Board of Trade (CBOT) corn, soybeans rebounded Tuesday on bargain buying while wheat extended losses by ample supplies with volumes thin on the market overall.
The corn contract for December delivery was up 2.25 cents, or 0. 60 per cent, to close at 3.7875 U.S. dollars per bushel. September wheat delivery lost 5.50 cents, or 1.10 per cent, to close at 4.935 dollars per bushel. November soybeans added 6.75 cents, or 0.72 per cent, to close at 9.4225 dollars per bushel.
Analysts said that corn witnessed a technical bounce amid thin volume on the market as corn settled at six-week lowest on Monday and soybeans rose off a one-week low. CBOT floor brokers reported that funds have bought 4,000 contracts of corn and 2,200 contracts of soybeans before Midday Tuesday, according to Agresource, a Chicago-based instituted.
The United States Department of Agriculture said on Monday afternoon in its weekly Report of Crop Progress that in the week of Aug. 2, U.S. corn condition unchanged, at 70 per cent good or excellent, while soybean conditions were lifted 1 per centage point to 63 per cent good or excellent, in line with market expectation. Some analysts said that the report was also supportive to corn and soybeans.










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