Chicago wheat, soybeans lower, corn higher

Chicago Board of Trade agricultural commodities closed mixed on Tuesday with wheat and soybeans falling, corn rising as rains could hamper progress on spring plantings.

The most active corn contract for May delivery added 3 cents, or 0.77 percent, to close at 3.9325 U.S. dollars per bushel. Wheat for May delivery lost 10.5 cents, or 1.97 percent, to close at 5. 235 dollars per bushel. May soybeans dropped 1.75 cents, or 0.18 percent, to close at 9.8175 dollars per bushel.

Wheat for May fell by almost 2 percent on Tuesday, snapping its four-session rally, as signs of rain are expected to relieve the dryness-hit growing belts in southern U.S. which pushed wheat prices to five-week highs in previous sessions.

The midday U.S. weather forecast is slightly wetter across the eastern Plains through the next 10 days. The Black Sea forecast also maintains soaking showers across much of Russia's winter wheat belt next week.

May soybeans edged lower amid the rumors that the Argentine soybeans harvest is accelerating and yields from some farms have been much better than expected.

Corn extended gains to a third straight session as expectation underpinned the market that rain could delay U.S. spring planting. A rally in corn prices prompted farmers to sell their stockpiles in the last two sessions.

"The markets are another day closer to USDA's critical stocks and seedings data, and new positions in the coming days will be lacking. May corn has not found much vigor above its 50-day moving average." according to AgResource company, a Chicago-based agricultural research institute. Endite