Chicago agricultural merchandise end week on low

The most active corn contract for March delivery lost 1.5 cents, or 0.42 percent, to close at 3.5875 dollars per bushel.

March wheat delivery declined 0.75 cents, or 0.16 percent, to close at 4.575 dollars per bushel. March soybeans fell 0.75 cents, or 0.09 percent, to close at 8.7275 dollars per bushel.

For the week, corn and wheat closed 1.91 percent and 1.98 percent lower respectively, while soybean added 0.61 percent.

The market was quiet on Friday and market-specific news was rare before the three-day President’s Day weekend except news from Egypt, the main wheat buyer in the world.

Egypt said Friday it bought a 60,000-ton cargo wheat from Romania. Egypt already cancelled two tenders of wheat last week. Analysts noted that this news was disappointing and gave some pressure on U.S. wheat on Friday. Enditem

Source: Xinhua