CHICAGO, June 30 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural futures settled mixed in the trading week ending June 28, with corn dropping after the U.S. Department of Agriculture (USDA) pegged U.S. planted acres well above trade expectations despite rains and flooding this spring that disrupted sowing.
The most active soybean contract for November delivery was up 20.25 cents, or 2.19 percent to close at 9.23 U.S. dollars per bushel. September corn delivery was down 25.75 cents, or 5.63 percent to close at 4.315 dollars per bushel. September wheat delivery was down 3.5 cents, or 0.66 percent to close at 5.2725 dollars per bushel.
In its annual acreage report on Friday, the USDA said U.S. farmers seeded 91.7 million acres of corn and 80.0 million acres of soybeans. This compares with the government's March forecasts of 92.8 million corn acres and 84.6 million soybean acres.
Analysts, on average, were expecting corn acres at 86.6 million and soybean acres at 84.4 million.
According to the crop report, the USDA pegged the U.S. June 1 corn stocks at 5.202 billion bushels versus the average trade estimate of 5.34 billion and the USDA's year-ago stocks estimate of 5.305 billion.
For soybeans, the USDA saw June 1 stocks at 1.79 billion bushels versus the average trade estimate of 1.86 billion and the USDA's 2018 estimate of 1.21 billion.
Soybean futures rose as the USDA said Friday that private exporters sold 544,000 metric tons of U.S. soybeans to China for delivery in the 2018/19 marketing year.
The USDA reported export sales of U.S. wheat in the week to June 20 at 612,000 metric tons, topping a range of trade expectations.
Export sales of U.S. corn in the week to June 20 at 405,000 metric tons, which is in line with trade expectations.
