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Agricultural Commodities Demonstrate Losses

January 28, 2015 at 18:03 by Vladimir Vyun

The energy market not the only poor performing market today as agricultural commodities were also under pressure. Virtually all grains demonstrated losses during the current trading session, some of them very big ones.

The biggest loser was wheat. The grain dropped on concerns that excessive supply and the resulting global surplus will reduce demand for US exports. Wheat dropped as much as 12.5 percent in 2015 so far.

Soybeans were also under pressure from speculations about plentiful harvest in Brazil and Argentina. Prospects for slowing demand from China were another negative factor for the oilseed. Still, the commodity did not fall as much as other grains.

Corn, the biggest US crop, also lost some of its value.

March futures for delivery of corn dropped 0.79 percent to $3.7825 per bushel as of 18:00 GMT on CBoT today. Soybeans dipped 0.08 percent to $9.73 per bushel while wheat lost as much as 2.5 percent to $5.06 per bushel.

If you have any questions and comments on the commodities today, use the form below to reply.

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