CHICAGO, April 23 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural futures settled mixed on Tuesday, with corn and soybeans continuing their fall over concerns on possibly weaker demand due to African swine fever outbreaks.
The most active corn contract for July delivery was down 3.25 cents, or 0.89 percent to 3.6025 U.S. dollars per bushel. July soybeans were down 15.25 cents, or 1.71 percent to 8.755 dollars per bushel. July wheat was up 3.25 cents, or 0.74 percent to 4.45 dollars per bushel.
CBOT floor traders estimated that fund sold 7,300 contracts of corn, 6,900 contracts of soybeans, and 900 contracts of wheat.
Soybean futures suffered sharp losses amid concerns over shrinking demand for U.S. crops, and China's African swine fever could curb the demand for soybeans and corn used for animal feed, said AgResource, a Chicago-based agricultural research company.
But the good news is that China's Ministry of Agricultural and Rural Affairs said on Tuesday that outbreaks of African swine fever had been contained.
Only 17 cases of African swine fever were reported during the first quarter this year, compared with 74 cases in the fourth quarter last year. As a result, China has ended blockades in 23 provincial-level regions, according to official statistics.
Additional pressure came from the stronger U.S. dollar, which could make U.S. commodities less competitive, compared to relatively cheaper South American crops.
CBOT wheat, which had fallen significantly on plentiful global stockpiles and better U.S. crop conditions, rose on Tuesday over bargain buying.
The U.S. Department of Agriculture (USDA) on Monday released its latest crop progress report, showing that 62 percent of U.S. winter wheat are in good to excellent condition, higher than the 60 percent last week and the 31 percent in the previous year.
