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Chicago agricultural commodities open mixed – Xinhua

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CHICAGO, Nov. 14 (Xinhua) — Chicago Board of Trade (CBOT) agricultural commodities opened mixed on Tuesday amid a lack of fresh demand news.

January soybeans went down 3.75 cents at 9.705 U.S. dollars per bushel as of 1610 GMT in the morning trading, December corn was down 2.5 cents at 3.3975 dollars, while December wheat was up 4.25 cents at 4.285 dollars.

Monday’s CBOT open interest surged 23,214 contracts in corn, 3,582 in soybeans and 11,155 contracts in wheat on the lower trading session.

National Agricultural Statistics Service reported that 93 percent of the U.S. soybean crop and 83 percent of the U.S. corn crop is now harvested. The U.S. corn harvest is behind the historical averages in Wisconsin and much of the Eastern Midwest.

A total of 95 percent of the U.S. winter wheat crop is planted with 54 percent of the crop rated Good or Excellent, down 1 percent from the prior week. Wheat conditions in the West Plains are below last year and the 5-year average.

The weekly Commitments of Traders report showed that managed money is net short 125,000 contracts of Chicago wheat, short 206,000 contracts of corn, and long 47,000 contracts of soybeans.

As for international markets, limited rainfall is expected across Argentina in the next 10-14 days. The Brazilian weather forecast is wet with heavy rains, which are expected to cross the northern and central areas of the crop belt through early December. Enditem