U.S. Agricultural Futures Close Mixed

CHICAGO, (UrduPoint / Pakistan Point News - 24th Jun, 2021 ) :-- Chicago board of Trade (CBOT) agricultural futures closed mixed on Thursday, with corn and soybean dropping and wheat rising.

The most active corn contract for December delivery fell 3.25 cents, or 0.6 percent, to settle at 5.3575 U.S. Dollars per bushel. September wheat rose 8.75 cents, or 1.34 percent, to settle at 6.6375 dollars per bushel. November soybean lost 2 cents, or 0.15 percent, to close at 13.0025 dollars per bushel.

Wheat rose on curtailed supplies in North America. Corn came under pressure as traders liquidated long corn and short wheat futures, Chicago-based research company AgResource noted.

U.S. farmers are not interested in sweeping out their bins until corn is post pollination.

U.S. Department of Agriculture (USDA) reported that China booked another 330,000 metric tons of U.S. soybean on Tuesday's dip and is still bidding for additional supply.

U.S. gasoline consumption jumped to 9.44 million barrels per day last week, unchanged from 2019 but up 10 percent from last year. The United States produced 308 million gallons of ethanol last week, up 17 percent from last year, but down 2 percent from 2019. U.S. 2020-2021 corn stocks would be 907 million bushels.