Chicago agricultural commodities close mixed

Chicago Board of Trade (CBOT) grains futures settle mixed on Wednesday with soybean futures rising as the market rebounded from its lowest level in nearly a month amid lingering concerns about risks from unfavorable crop weather in South America.

The most active corn contract for March delivery fell 3 cents, or 0.86 percent, to 3.4725 dollars per bushel. March wheat delivery fell 3.75 cents, or 0.93 percent, to 3.995 dollars per bushel. January soybeans added 1.25 cents, or 0.12 percent, to 10.17 dollars per bushel.

Corn prices declined to a two-week low as traders eyed strong crops in Brazil, a main rival for U.S. corn production and export. Growing conditions in that country have been good, analysts say, while recent rains in Argentina also have been beneficial for that crop.

Wheat prices dropped below the psychologically significant 4 dollars a bushel mark, buffeted by concerns over demand for U.S. supplies and warming U.S. weather. Egypt, the world's largest wheat buyer, recently purchased grain from Russia, Argentina and Romania, underscoring the relative competitiveness of exports from those regions.

Prices for wheat eased further as weather forecasts called for temperatures to climb in the U.S. Midwest - where soft- red wheat is grown - following a cold snap that endangered crops across the nation's wheat belt.

Soybean prices nudged higher after sliding to a one-month low on Tuesday, boosted by export demand and technical buying.

The U.S. Department of Agriculture said private exporters had booked sales of 132,000 metric tons of soybeans for delivery to China during the 2016-17 crop year, offering ongoing signs of international demand for the U.S. crop at a time when buyers typically turn to South America for supplies. Enditem