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Chicago agricultural commodities close mixed

Xinhua, July 28, 2016 Adjust font size:

Chicago Board of Trade (CBOT) soybean futures extended gains Wednesday as Midwest weather forecasts turned warmer and drier and evidence of continued export demand buoyed the market.

Prices for corn rose while wheat slipped.

The most active corn contract for December delivery closed up 3.5 cents, or 1.03 percent, to 3.43 dollars per bushel. September wheat delivery fell 0.25 cents, or 0.06 percent, to 4.1475 dollars per bushel. November soybean rose 12.25 cents, or 1.26 percent, to 9.86 dollars per bushel.

Continuing signs of robust demand for U.S. supplies of the oilseeds also helped shore up prices, with the U.S. Department of Agriculture reporting Monday that private exporters sold 131,000 metric tons of soybeans for delivery to China during the 2015-16 and 2016-17 crop years.

Analysts said speculation over increased buying interest from China, the world's largest soybean importer, added to positive sentiment in the market.

Prices for both soybeans and corn have declined during much of July as frequent rain showers resulted in good growing conditions and historically high U.S. crop condition ratings.

Wheat prices closed slightly lower due to ample domestic grain inventories and weakness in the European wheat market. Enditem