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Chicago wheat, soybeans edged lower; corn little changed

Xinhua, February 20, 2016 Adjust font size:

Chicago Board of Trade (CBOT) agricultural commodities closed mixed Friday, with wheat, soybean futures slipping slightly and corn being little changed as weekly U.S. corp sales were almost on par with market estimates.

The most active wheat contract for March delivery lost 0.5 cent, or 0.11 percent, to close at 4.6175 U.S. dollars per bushel. Corn for March delivery closed at 3.655 dollars per bushel. March soybean delivery shed 1.5 cents, or 0.17 percent, to close at 8.7825 dollars per bushel.

The the U.S. Department of Agriculture (USDA) said Friday in its weekly export sales report that for the week ending Feb. 11, the United States witnessed a fall of 10 percent in wheat exports from the previous week, but up 15 percent from the prior 4-week average.

Corn exports were up 38 percent from the previous week and 21 percent from the prior 4-week average, while soybean export sales rose by 35 percent from the previous week, according to the same report.

Analysts noted U.S. weekly export sales were near expectations for corn, soybeans and wheat.

Chicago soybeans were put more pressure by the news that farmers in Brazil's biggest production state have harvested nearly 40 percent of their soybean crop, up about 5 percent from last year, and yields are up 1 percent from last year's record.

For the week, the most active corn contract for March delivery rose by 1.88 percent, March wheat added 0.93 percent, while March soybeans gained 0.63 percent. Endit