Agricultural commodities down with profit taking

 CHICAGO, Aug. 27 (Xinhua) -- Chicago corn, wheat and soybean futures¹ all fell Monday, as traders worried about sluggish² crop export demand and engaged in some profit taking.

The most active corn contract for December delivery fell 7.75 cents, or 0.96 percent, to close at 8.0075 dollars per bushel. December wheat declined 7.25 cents, or 0.82 percent, to settle at 8.8125 dollars per bushel. November soybeans fell 12.75 cents, or 0.74 percent, to close at 17.1875 dollars per bushel.

Agricultural commodities all settled near the day's lows Monday, as some technical selling pulled the markets downward. Traders took advantage of recent high grain prices due to this summer's drought conditions, and engaged in some profit taking.

Outside market forces were mixed, as the day saw weakness in crude oil and U.S. equities³, but a lower dollar for most of the session.

This week's approach of tropical storm Isaac was seen by traders as largely mixed force, as the storms will bring much- needed precipitation to the current crops, but also potential damage due to the high winds.

Traders also continue to be concerned with low export demand for U.S. grains, as the high U.S. prices have recently driven buyers such as Egypt to markets like the Black Sea region and South America. U.S. weekly crop inspections⁴ for all the grains were lower than those of the previous week.

Corn export inspections for the week ending Aug. 27 were estimated at 14.46 million bushels, down from 21.51 million bushels the previous week.

Wheat weekly export inspections were pegged⁵ at 18.88 million bushels, compared to 23.42 million bushels the previous week.

Soybean weekly export inspections were 17.4 million bushels, down from 21.43 million bushels the previous week.

1 futures   

n.期货，期货交易

参考例句：

• He continued his operations in cotton futures.他继续进行棉花期货交易。
• Cotton futures are selling at high prices.棉花期货交易的卖价是很高的。

2 sluggish   

adj.懒惰的，迟钝的，无精打采的

参考例句：

• This humid heat makes you feel rather sluggish.这种湿热的天气使人感到懒洋洋的。
• Circulation is much more sluggish in the feet than in the hands.脚部的循环比手部的循环缓慢得多。

3 equities   

普通股，股票

参考例句：

• These are invested mainly in the OECD bonds and equities. 这些资产主要投资于经济合作及发展组织的债券与股票市场。
• They are also advantage of the global rebound in equities. 它们还在利用全球股市反弹的机会。

4 inspections   

n.检查( inspection的名词复数 )；检验；视察；检阅

参考例句：

• Regular inspections are carried out at the prison. 经常有人来视察这座监狱。
• Government inspections ensure a high degree of uniformity in the standard of service. 政府检查确保了在服务标准方面的高度一致。 来自《简明英汉词典》

5 pegged   

v.用夹子或钉子固定( peg的过去式和过去分词 )；使固定在某水平

参考例句：

• They pegged their tent down. 他们钉好了账篷。 来自《简明英汉词典》
• She pegged down the stairs. 她急忙下楼。 来自《现代英汉综合大词典》