Chicago agricultural commodities close mixed

Chicago Board of Trade (CBOT) corn settled higher for its fifth successive trading session on Wednesday, and wheat and soybeans retreated a little from previous day's gains.

The most active corn contract for July delivery rose 2.50 cents, or 0.63 percent, to close at 3.995 dollars per bushel. July wheat delivery dropped 1.75 cents, or 0.36 percent to settle at 4.80 dollars per bushel. July soybeans shed 5 cents, or 0.46 percent, to close at 10.7525 dollars per bushel.

Corn climbed a little higher on a new round of short covering after it traded lower overnight and in the morning session, according to analysts.

The U.S. Energy Information Administration on Wednesday said that in the week ending May 13, U.S. production of corn-based ethanol production was 948,000 barrels per day, lower than previous week's 962,000. However, the stocks of ethanol were also lower than that of the previous week.

Soybeans retreated on profit taking after they advanced nearly 1.5 percent on Tuesday, while the stronger U.S. dollar also weighed on soybeans as a stronger dollar make them more expensive and less competitive in the international market.

Wheat market was quiet Wednesday and wheat futures settled a little lower as stronger dollar extended pressure on wheat.

The U.S. Environmental Protection Agency (EPA) released its proposed renewable fuel standard for 2017 and biomass-based diesel requirements for 2018 Wednesday. EPA proposed a requirement of 18.8 billion gallons of renewable fuel, slightly higher from 18.11 billion for 2016.

EPA will hold a public hearing on the proposal on June 9 and the proposed rule is scheduled to be open to public comment untill July 11. Endit