CBOT wheat futures plunge over 2 pct as weather improves

Source: Xinhua| 2018-04-21 05:00:53|Editor: huaxia
Video PlayerClose

CHICAGO, April 20 (Xinhua) -- Chicago Board of Trade (CBOT) grains closed lower on Friday, with wheat futures dropping over two percent, as forecasts for beneficial crop weather across key growing areas sparked a round of fund liquidation ahead of the weekend.

Corn, soybean and spring wheat futures were pressured by warming weather that should allow farmers to pick up the pace of their delayed planting.

The most active corn contract for July delivery fell 5.5 cents, or 1.41 percent to close at 3.855 dollars per bushel. July wheat delivery dropped 13.5 cents, or 2.75 percent to close at 4.7725 dollars per bushel. July soybean delivery went down 8.75 cents, or 0.83 percent to close at 10.4025 dollars per bushel.

CBOT brokers report that funds on Friday sold 4,800 contracts of corn and 2,800 contracts of wheat, while selling 1,900 contracts of soybeans. Funds were early aggressive sellers of soybeans, but came back at midday on the buy side. Enditem