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Chicago agricultural commodities close mixed

Xinhua, March 12, 2016 Adjust font size:

Chicago Board of Trade (CBOT) corn and soybeans extended their gains on Friday, while wheat retreated a little after rising for six successive trading days.

The most active corn contract for May delivery rose 2.25 cents, or 0.62 percent, to close at 3.65 dollars per bushel. May wheat delivery declined 1.25 cents, or 0.26 percent, to close at 4.7575 dollars per bushel. May soybeans added 6.50 cents, or 0.73 percent, to close at 8.9575 dollars per bushel.

For the week, corn, wheat and soybeans advanced 1.88 percent, 3.26 percent and 1.96 percent, respectively.

Analysts said that corn advanced Friday on improved export sale data. The U.S. Department of Agriculture (USDA) said Friday morning that private exporters reported export sales of 170,800 tons of corn for delivery to Japan during the 2015/2016 marketing year.

On Thursday, USDA's data showed that corn net sales ending the week on March 3 were up 7 percent from the previous week and 37 percent from the prior 4-week average.

The soybean oil advanced on reduced supplies from palm oil in Malaysia, supporting soybeans higher on Friday, according to analysts.

The lower U.S. dollar also gave additional support to corn, and soybeans as a weaker dollar make the U.S. corn and soybeans cheaper to buyers holding other currencies. Endit