CHICAGO, Aug. 20 (Xinhua) -- Chicago Board of Trade (CBOT) corn and wheat futures extended losses on Tuesday as much needed rainfall in the U.S. Midwest eased dryness and bearish export data weighed on their prices.
The most active corn contract for December delivery was down 5.75 cents, or 1.54 percent to settled at 3.6875 dollars per bushel. December wheat was down 6 cents, or 1.27 percent to 4.665 dollars per bushel. November soybeans were up 1.75 cents, or 0.2 percent to 8.6825 dollars.
Thunderstorms since this past weekend have brought beneficial rains to crop growing Iowa and Illinois states, which can ease the stress that late-planted corn and soybeans suffered due to dryness.
Bearish data on recent grain inspections for export added more pressure on crop futures, said market watchers.
For the week ending Aug. 15, volumes of corn and wheat that were inspected or weighed for export were down from the previous seven days, according to the U.S. Department of Agriculture (USDA).
However, weak U.S. crop conditions curbed the losses in corn and wheat while leading to moderate rise in soybean prices.
An updated crop progress report from the USDA showed slight decline in corn, wheat and soybean conditions as of Aug. 18, when compared with the previous seven days. Enditem
