CHICAGO: Chicago Board of Trade (CBOT) agricultural futures settled lower on Friday, with all three commodities falling on technical selling after gains in early moves.
The most active soybean contract for March delivery lost 2.25 cents, or 0.25 percent, to close at 8.905 U.S. dollars per bushel. May wheat slid 7.25 cents, or 1.3 percent, to 5.52 dollars per bushel. May corn decreased 2 cents, or 0.52 percent, to 3.8075 dollars per bushel.Soybean futures edged lower as export sales remained weak. The latest weekly export data showed sales to China were just 11,484 metric tons, the lowest weekly total since early September of last year, reports Xinhua.
The U.S. Department of Agriculture (USDA) on Friday reported export sales of U.S. soybeans in the week ending Feb. 13 at 494,300 metric tons for 2019/2020 marketing year, down 23 percent from the previous week and 22 percent from the prior four-week average.
Export sales of U.S. corn were 1,249,200 metric tons for 2019/2020, up 29 percent from the previous week and 12 percent from the prior four-week average, the USDA said.
The USDA reported export sales of U.S. wheat at 346,300 metric tons for 2019/2020, down 46 percent from the previous week and 40 percent from the prior four-week average.