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Reuters Chicago on August 19 by the U.S. wheat export sales last week, a new high in nearly three years, and on Russia to join the ranks of food-importing countries to promote market rumors, the Chicago Futures Exchange rose sharply for wheat 19. In the profit taking and the expected yield under pressure, both corn and soybean prices lower.

Day, December wheat contract rose 25.5 cents to settle at 7.1425 U.S. dollars per bushel, or 3.7%.

December corn contract fell 4 cents to close at 4.2925 U.S. dollars per bushel, down 0.9%. November soybean contract fell 18.5 cents to close at 10.1225 U.S. dollars per bushel, down 1.8%.

19 U.S. Department of Agriculture data released last week, the net U.S. corn export sales of 288 million tons, nearly 16 years since the high point, and well above analyst estimates of 1.3 to 1.7 million tons range limit; wheat net Export sales of 1.41 million tons, a 34-month high, and higher than the market estimate of from 950,000 to 1,250,000 tons; soybean net export sales to reach 2.23 million tons, slightly higher than analysts had expected 1.9 million tons The upper limit to 220 tons.

Analysts pointed out that since Russia welcomed the recent rainfall in some areas small, not enough to ease the severe drought in the region, if not large-scale rainfall in the next few weeks, not only would be delayed winter wheat planting, the planting will be limited. As the world's third largest wheat exporter, Russia will have to increase food imports to meet domestic demand. In addition, the callback for wheat has recently been triggered bargain hunting investors, and promote the day sharply higher for wheat.

In the strong export demand, the higher corn prices Dangtian opening, but quickly reversed gains Er be the significant downturn, analysts pointed out that this was mainly due on prices failed to break the day 4.39 U.S. dollars per bushel, the key price-induced technical due to selling. U.S. corn yield and profit taking is also expected to add to its negative factors.

Soybeans, the U.S. Midwest crop inspection group recently released a report that the U.S. soybean crop growing well, production may exceed 2009, and is expected to hitting a new record. The news triggered the day of active fund selling, with some investors eager to profit taking, put heavy pressure on their prices, so that it hit 10.0675 U.S. dollars per bushel of August 3 main contract price has been low.

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