U.S. wheat futures dip on technical selling

Source: Xinhua| 2019-11-01 06:47:31|Editor: Mu Xuequan
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CHICAGO, Oct. 31 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural futures settled mixed on Thursday, with wheat futures edging lower on traders' technical selling.

The most active wheat contract for December delivery was down 0.5 cent, or 0.1 percent, to settle at 5.0875 U.S. dollars per bushel. December corn was down 0.75 cent, or 0.19 percent, to settle at 3.9 dollars per bushel. January soybeans were up 1.75 cents, or 0.19 percent, to 9.3225 dollars per bushel.

Wheat futures headed lower for a fourth straight session as the market awaits supportive news.

The U.S. Department of Agriculture (USDA) on Thursday reported export sales of U.S. wheat in the week ending Oct. 24 at 493,700 metric tons, toward the high end of trade insiders' expectations for 200,000 to 500,000 metric tons.

Corn futures also fell on technical selling as traders wait to see how much a wintry storm crossing the central U.S. Plains and Midwest will delay harvest progress.

The USDA reported export sales of U.S. corn in the week ending Oct. 24 at 549,100 metric tons, in line with trade insiders' expectations for 300,000 to 800,000 metric tons.

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