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Chicago agricultural commodities close mixed

Xinhua, April 6, 2016 Adjust font size:

Chicago Board of Trade (CBOT) corn continued to settle higher on Tuesday, while wheat and soybeans extended their losses.

The most active corn contract for May delivery gained 2.25 cents, or 0.63 percent, to close at 3.5675 dollars per bushel. May wheat delivery declined 0.75 cents, or 0.16 percent, to close at 4.74 dollars per bushel. May soybeans lost 8.75 cents, or 0.96 percent, to close at 9.0475 dollars per bushel.

The market was quiet Tuesday and the traders were waiting for the the U.S. Department of Agriculture (USDA) first crop progress report, which should be released on Monday afternoon but was delayed to Tuesday afternoon.

Analysts said that cooler, wetter weather in U.S. Midwest and central and south Plains, which has postponed the farmers' corn planting as spring planting is around the corner, supported corn higher on Tuesday.

Some analysts noted that soybeans continued to settle lower Tuesday on technical selling. CBOT floor brokers reported that funds sold 3,500 contracts of soybeans before midday, according AgResource, a Chicago-based agriculture consultancy. Enditem