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Chicago agricultural commodities closed mixed

Xinhua, January 10, 2015 Adjust font size:

Chicago Board of Trade agricultural commodities closed mixed on Friday with corn and soybeans rising and wheat falling.

The most active corn contract for March delivery rose 6 cents, or 1.52 percent, to close at 4.0025 U.S. dollars per bushel. Soybeans for March delivery increased 4 cents, or 0.38 percent, to close at 10.5225 dollars per bushel. Wheat for March delivery dropped 3.25 cents, or 0.57 percent, to close at 5.6375 dollars per bushel.

Analysts said that the volume is low and there is very little news as traders await the U.S. Department of Agriculture's January National Agricultural Statistics Service report.

Corn witnessed its biggest gain Friday amid strong export demand. News in the market that private exporters reported the sale of 136,000 tonnes of corn to South Korea, as well as 116,000 tonnes of sorghum to unknown destinations supported corn.

A round of short covering following three straight days of declines added support to corn.

Analysts attributed the down of wheat to warmer weather in the coming days, saying that fears of damage to the U.S. crop from frost is fading in the market.

The weather forecast to be released on Sunday will be an important driver of the market. Endite