Chicago agricultural commodities settle mixed

CHICAGO, Dec. 8 (Xinhua) -- Chicago Board of Trade (CBOT) grains closed mixed on Friday as a stronger U.S. dollar continued its pressure on the futures.

The most active corn contract for March delivery rose 1.25 cents, or 0.36 percent to settle at 3.5275 dollars per bushel. March wheat delivery went down 2.5 cents, or 0.59 percent, to 4.19 dollars per bushel. January soybeans lost 2.25 cents, or 0.23 percent to close at 9.8975 dollars per bushel.

The U.S. dollar index, a gauge of the dollar against a basket of other major currencies, has kept edging up this week. A firmer dollar will make CBOT commodities less competitive in world market.

Official statistics showed strong export sales of U.S. soybeans last week, but year-to-date sales are still lagging behind last year.

Commodity fund traders were estimated as net sellers of 5,000 soybean contracts on Friday, and the sell-off further dragged down soybean prices.

Meanwhile, CBOT wheat futures reached new contract lows since the beginning of November. The downturn maintained through the whole week due to ample world inventories and bigger-than-expected crop estimates in Canada.

CBOT corn rallied moderately following a two-day decline. Enditem