Chicago agricultural commodities settle mixed

CHICAGO, Jan. 3 (Xinhua) -- Chicago Board of Trade (CBOT) grains closed mixed on Wednesday with winterkill concerns continuing to push up wheat prices.

The most active corn contract for March delivery edged down 0.25 cent, or 0.07 percent, to settle at 3.53 dollars per bushel. March wheat delivery rose 2.5 cents, or 0.58 percent, to close at 4.36 dollars per bushel. March soybeans went up four cents, or 0.41 percent, to settle at 9.6875 dollars per bushel.

CBOT brokers reported that funds sold 2,000 contracts of corn and 500 contracts of soybeans, while buying 1,200 contracts of wheat.

Winterkill remained a major concern when it came to the wheat. The severe cold in the past week combined with dry conditions will probably bring some winterkill damage, said market observers.

It has been reported that widespread winterkill has occurred across southeastern Colorado, much of Kansas, far northern Oklahoma, central Missouri, southern Illinois and southwestern Indiana.

According to weather forecasts, temperatures are expected to rise across the country towards this weekend. However, another cold front may be moving into the eastern Midwest. If there is not a layer of snow to cover the plants, there will be more risks of winterkill.

The heat and dryness in Argentine pushed up soybeans on Wednesday, while technical selling led to the retreat of corn prices, said analysts. Enditem