CHICAGO, July 17 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural futures settled mixed on Wednesday, with soybeans giving up early gains amid heat wave and trade uncertainty.
The most active corn contract for December delivery was up 0.25 cent, or 0.06 percent to 4.415 U.S. dollars per bushel. September wheat was down 2 cents, or 0.39 percent to 5.055 dollars per bushel. November soybeans were down 5.5 cents, or 0.61 percent to 9.005 dollars per bushel.
According to the U.S. National Weather Service, a "dangerous and widespread" summer heat wave is expected through this upcoming weekend across much of Iowa, Illinois, Nebraska, Kansas, Missouri, Oklahoma and Arkansas states, with temperatures in some locations possibly rising over 40 degrees Celsius.
Concerns over possible damage to late planted crops lifted CBOT futures in morning trade, but corn gave up most of the gains and soybeans even slipped into negative territory at market close.
For soybeans, the uncertainty of outlook for China trade remains a key factor, said market analysts.
The U.S. Department of Agriculture earlier this week slightly raised the ratings for U.S. corn and soybean crops, which gave additional pressure on their futures.
Some 58 percent of U.S. corn crop was in good or excellent condition as of July 14, up from 57 percent in the previous week. Soybeans rated as good/excellent were also one percentage point higher.
