CHICAGO, Oct. 16 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural futures closed mixed on Friday, with corn and soybean falling and wheat rising.
The most active corn contract for December delivery slipped 1.75 cents, or 0.43 percent, to close at 4.02 U.S. dollars per bushel. December wheat rose 7 cents, or 1.13 percent, to settle at 6.2525 dollars per bushel. November soybean fell 12.25 cents, or 1.15 percent, to close at 10.5 dollars per bushel.
Wheat moved to new rally high, while soybean dropped on the lack of new Chinese demand confirmation, Chicago-based research company AgResource noted. Diminished rain for Russian wheat areas along with ongoing rumors of China interest in world wheat supported wheat.
U.S. Department of Agriculture (USDA) reported that 175,000 metric tons of U.S. soybeans were sold to an unknown destination with 128,000 metric tons of U.S. corn sold to Mexico. No new China sales were confirmed.
It's widely expected that Brazil will allow foreign corn and soybeans to enter their borders without an 8-percent import tariff as its domestic prices rise to record highs.
It will be wetter across the Eastern Midwest and drier across the Western Midwest and the Plains over the next 10 days. Snow will fall across North Minnesota, North Wisconsin and the Dakotas late next week. Soybean harvest should be completed in this area by Monday.
U.S. soybean weekly export sales were large at 96.7 million bushels, with wheat at 19.4 million bushels and U.S. corn at 25.8 million bushels. Wheat is the most bullish with corn waiting on China demand, AgResource noted. Enditem
