CBOT agricultural futures lower ahead of key USDA report
Chicago Board of Trade (CBOT) agricultural futures settled lower on Wednesday amid liquidation ahead of USDA's monthly supply and demand report.
The most active December corn was down 1 cent, or 0.27 percent, to close at 3.7225 dollars per bushel. December wheat was down 1.75 cents, or 0.34 percent, to settle at 5.1025 dollars.
January 2019 soybeans were down 4.75 cents, or 0.54 percent, to settle at 8.795 dollars per bushel.
CBOT brokers reported that funds sold 2,000 contracts of wheat, 3,400 contracts of corn, and 3,000 contracts of soybeans.
The U.S. Department of Agriculture (USDA) is to release its November supply and demand report on Thursday. Market watchers said CBOT traders just trimmed recent net long positions ahead of the report, in case the USDA raises stocks of soybeans or other grains.
Meanwhile, CBOT wheat futures posted moderate losses following almost 1 percent rise in the previous session amid worries over weak export demand.