CBOT corn, wheat futures edge lower on profit taking

Source: Xinhua| 2020-02-20 06:28:14|Editor: huaxia

CHICAGO, Feb. 19 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural futures closed mixed on Wednesday, with con and wheat futures falling on profit taking from the previous session's strong rally.

The most active soybean contract for March delivery added 5 cents, or 0.56 percent, to close at 8.9725 U.S. dollars per bushel. March wheat lost 1.5 cents, or 0.26 percent, to 5.6525 dollars per bushel. March corn decreased 2.5 cents, or 0.65 percent, to 3.805 dollars per bushel.

Investors turned to profit taking on CBOT corn and wheat futures after they both posted gains over one percent on Tuesday.

Soybean futures rose on expectations of fresh purchases by top buyer China.

Starting from March 2, China's tax authority will accept applications of domestic firms for the exemption of additional tariffs imposed on some U.S. products within a certain period of time, the Customs Tariff Commission of the State Council said Tuesday.

The U.S. Department of Agriculture is expected to release U.S. 2020 plantings forecast on Thursday at its annual Outlook Forum. Enditem