Chicago agricultural commodities close mixed

Chicago Board of Trade (CBOT) corn extended a little gains in moderate trading on Monday, while wheat and soybeans retreated .

The most active corn contract for May delivery added 0.5 cents, or 0.14 percent, to close at 3.545 dollars per bushel. May wheat delivery lost 1 cents, or 0.21 percent, to close at 4.7475 dollars per bushel. May soybeans shed 4.75 cents, or 0.52 percent, to close at 9.135 dollars per bushel.

The U.S. Department of Agriculture (USDA) said Monday in its weekly grain inspected export report Monday that weekly U.S. corn export inspections was 1,054,042 tons in the week ending March 31, higher than the previous week of 989,062. Analysts noted that corn was supported by this report as it showed improved export inspections, boosting traders' expectations of more demand for U.S. corn.

However, the report was bearish for wheat and soybeans, as it showed soybeans export inspections was 204,974 tons, fell sharply from last week's 567,846, and analysts noted the data also missed expectations.

As for the wheat, the report showed export inspection was 318,348 tons, mostly in line with expectations but lower than last week's 351,785.

Some analysts also noted that wheat and soybeans also retreated as traders are profit taking at the beginning of second quarter of the year, especially after wheat and soybeans already advanced two successive days before Monday. Endit