Chicago agricultural commodities settle mixed

Chicago Board of Trade (CBOT) grains futures closed mixed on Wednesday with corn and wheat prices edging higher as investors squared positions ahead of U.S. Department of Agriculture plantings and grain stocks data on Friday.

Soybean futures fell to the lowest levels since October and corn and wheat each held above recent multi-month lows as ample global grain and oilseed supplies continued to anchor prices.

The most active corn contract for May delivery rose 0.75 cents, or 0.21 percent, to 3.585 dollars per bushel. May wheat delivery added 1 cents, or 0.24 % to 4.255 dollars per bushel. May soybeans fell 3 cents, or 0.31 percent, to 9.69 dollars per bushel.

In the outside markets, the Brent crude oil market is 1.05 dollars per barrel higher, and the Dow Jones Industrials are 27 points lower.

Jack Scoville, The PRICE Futures Group's senior market analyst, says that there is nothing really going on in the markets.

"Investors appear frozen in time, waiting for USDA to show us the truth on Friday. There was some short covering in the overnight market, but no one interested in buying here in this part of the world. Too many supplies on hand and too many acres of more supplies are coming." Scoville says.

Commodity funds sold small amounts of soybean futures contracts and were net buyers of corn and wheat futures, traders said.

Analysts said forecasts for wet weather across key U.S. growing regions would likely limit support. Enditem