Chicago agricultural commodities settle mixed

Chicago Board of Trade grains futures closed mixed on Tuesday following the release of the latest ending stocks report.

The monthly agricultural supply and demand estimates issued on Tuesday by the U.S. Department of Agriculture (USDA) reduced U.S. feed consumption and higher South American crops.

Still, most of the USDA' s estimates, domestic and international, fell in line with trade expectations.

The most active corn contract for May delivery fell 0.5 cent, or 0.14 percent, to 3.665 dollars per bushel. May wheat delivery up 4.5 cents, or 1.05 percent, to 4.3325 dollars per bushel. May soybeans were down 2.5 cents, or 0.27 percent, to 9.3925 dollars per bushel.

U.S. corn ending stocks were unchanged, as reduced feed use was offset by a hike in ethanol's demand. Meanwhile, the world corn ending stocks increased by 1.04 percent than last month.

Both the U.S. and the world soybeans ending stocks have risen slightly with the combined Brazilian and Argentine soybean production being raised 3.5 million metric tons (MMTs) to a record 167 MMTs.

World wheat stocks were raised again, to 252 MMTs, up 2.3 MMTs. However, wheat futures closed higher as traders covered short positions, said market analysts. Endit