CHICAGO, Feb. 2 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural commodities continued the downturn on Friday in wheat and soybeans amid favorable weather conditions.
The most active corn contract for March delivery fell 0.25 cent, or 0.07 percent to settle at 3.615 dollars per bushel. March wheat delivery went down 4.25 cent, or 0.94 percent to close at 4.4675 dollars per bushel. March soybeans lost 6.25 cents, or 0.63 percent to settle at 9.7875 dollars per bushel.
CBOT brokers reported that funds sold 6,500 contracts of soybeans, 3,000 contracts of wheat and 2,600 contracts of corn.
Rainfall is expected this weekend in southwestern Argentina, according to weather forecasts. Market observers said that increased rain showers could ease the drought in the country's corn and soybean growing areas, which spurred CBOT selling on Friday.
CBOT wheat futures also slid over forecasts for snow early next week in the U.S. plains, which will offer a protection layer for winter wheat plants to resist winter chill.
U.S. farmers have reportedly sold aggressively on the rally in CBOT prices earlier this week while many South American farmers have taken a wait-and-see approach.
