CHICAGO, Nov. 17 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural futures fell across the board on Friday, led by corn.
The most active corn contract for December delivery plunged 7.75 cents, or 1.63 percent, to settle at 4.67 U.S. dollars per bushel. March wheat fell 5.25 cents, or 0.9 percent, to settle at 5.7575 dollars per bushel. January soybean lost 20 cents, or 1.47 percent, to settle at 13.4025 dollars per bushel.
Amid a U.S. holiday shortened trading week ahead and key Argentine election on Sunday, market volatility will be ramped up. Brazilian weather forecast now holds the most impact on CBOT prices.
The bulls are taking profits to enjoy Thanksgiving Day holiday. Chicago-based research company AgResource holds that few want to place a new bet. But the CBOT soybean break is corrective.
French winter wheat seeding scored limited progress last week with just 71 percent of the crop in the ground, compared to 67 percent a week earlier and 96 percent last year. The UK and other EU countries are enduring the same wet weather issues.
Another 2-3 hot and dry days prevail before showers arrive across Northern Brazil late Sunday and extend through Thursday. But there is no evidence of any lasting coolness for Northern Brazil. Soaking rain is falling across Southern Brazil, and the rain will persist for another 36 hours with flooding becoming more widespread.