CHICAGO, Aug. 30 (Xinhua) -- Chicago Board of Trade (CBOT) grains futures closed lower on Wednesday as funds kept selling ahead of a three-day weekend.
The most active corn contract for December delivery fell 3.25 cents, or 0.93 percent, to 3.455 dollars per bushel. December wheat delivery closed unchanged at 4.2975 dollars per bushel. November soybeans went down 4 cents,or 0.43 percent, to 9.3325 dollars per bushel.
CBOT brokers reported that funds sold 7,000 contracts of corn, 3,000 contracts of wheat and 4,000 contracts of soybeans. Fund selling and a lack of fresh news continued to pressure corn, soybean and wheat futures.
Analysts said that CBOT market maintained a bearish atmosphere with the charts technically oversold, but still heading lower. Bottom pickers have not been rewarded.
A new tropical storm is reportedly forming in the Atlantic, which is expected to take a westerly route and then turn west southwest on Friday. Following on the heels of Harvey, the market, along with the media, will be paying close attention to the new storm next week to estimate its impact.
