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Chicago agricultural commodities close mixed

Xinhua, February 20, 2015 Adjust font size:

Chicago Board of Trade (CBOT) agricultural commodities closed higher on Thursday with corn and soybeans rising, wheat falling.

The most active corn contract for March delivery added 6 cents, or 1.56 percent, to close at 3.8975 U.S. dollars per bushel. Soybeans for May delivery gained 12 cents, or 1.20 percent, to close at 10.1125 dollars per bushel. May wheat lost 4.25 cents, or 0.81 percent, to close at 5.195 dollars per bushel.

Analysts said U.S. soybean and corn futures rose on Thursday after the U.S. Department of Agriculture projected farmers will plant fewer acres than traders expected.

In its first crop production outlook for 2015, the U.S. Department of Agriculture report released Thursday shows soybean planted acres are forecast at 83.5 million, which was below expectations. Corn planted acres are projected at 89.0 million, also lower than expectations. Wheat acres were put at 55.5 million, in line with expectations.

Ethanol supplies for the week ending Feb. 13 fell 51,000 barrels to 21.08 million barrels, while production of biofuel ethanol, made primarily with corn, increased by 3,000 barrels per day to an average rate of 964,000 barrels per day, according to weekly ethanol report released by U.S. Energy Information Thursday. Endite