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Chicago agricultural commodities closed mixed

Xinhua, January 21, 2015 Adjust font size:

Chicago agricultural commodities closed mixed Tuesday with corn, wheat rising while soybeans falling.

The most active corn contract for March delivery rose 3.25 cents, or 0.84 percent, to close at 3.9025 U.S. dollars per bushel. Soybeans for March delivery fell 9.75 cents, or 0.98 percent, to close at 9.82 dollars per bushel. Wheat for March delivery increased 4.25 cents, or 0.80 percent, to close at 5.37 dollars per bushel.

The cancellation of soybean sale to China has put the grain futures under pressure, analyst said.

The U.S. Agriculture Department said Tuesday that exporters called off the sale of 174,000 tonnes of soybeans, to be shipped to China, in the 2014/15 marketing year. It followed the cancellation of deals for 285,000 tonnes of soybeans on Friday.

Soybeans also fell as weather in South America turns out to be more favorable for soybean production in main crop areas, as harvesting is getting under way, analysts said.

Wheat futures closed up on bargain buying following early losses. Wheat began to lose from Jan. 7, after losing eight trading sessions in a row. The traders began their bargain buying on Tuesday, pushing higher the wheat futures, analysts said. Endite