CHICAGO, Sept. 19 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural futures closed mixed on Tuesday, with corn rising and wheat and soybean falling.
The most active corn contract for December delivery rose 4.75 cents, or 1.01 percent, to settle at 4.7625 U.S. dollars per bushel. December wheat plunged 7.25 cents, or 1.23 percent, to settle at 5.84 dollars per bushel. November soybean fell 1.25 cents, or 0.09 percent, to settle at 13.155 dollars per bushel.
CBOT grain futures are back and forth. U.S. farmers are harvesting corn, but prefer to place the grain in farm storage due to cheap prices.
CBOT is searching for a seasonal low as traders try to understand corn and soybean yield trends. Small soybean seed size is dropping actual Midwest soybean yields from producer expectations and from last year. Chicago-based research company AgResource looks for short covering into Sept. 29 when U.S. Department of Agriculture (USDA) Stocks and Final Small Grain Report will be released, warning against selling CBOT breaks.
Siberian Russian producers are starting to abandon hard red spring (HRS) wheat fields due to ongoing wet weather and low interior prices. Recent demand from China and North Africa are offering post-harvest support to cash wheat.
An active upper air flow pattern across the Central U.S. will bring almost daily rain chances to the area starting late Thursday. Showers blanketed the Plains and Western Midwest from Friday to Sunday, and will push east into the Eastern Midwest early next week. A few dry and warm days will close out September.
