CBOT futures settle mixed as USDA releases export data

CHICAGO, Jan. 19 (Xinhua) -- Chicago Board of Trade (CBOT) grains closed mixed on Friday with soybean and corn futures posting gains over upbeat export data.

The most active corn contract for March delivery inched 1 cent higher, or 0.28 percent to settle at 3.525 dollars per bushel. March wheat delivery fell 2.5 cents, or 0.59 percent to close at 4.2275 dollars per bushel. March soybeans rose 4.25 cents, or 0.44 percent to settle at 9.7725 dollars per bushel.

CBOT brokers reported that funds bought 3,500 contracts of corn and 4,300 contracts of soybeans while selling 3,200 contracts of wheat.

The U.S. Department of Agriculture (USDA) on Friday released its weekly export sales report. The lasted data for the period of January 5-11 showed that U.S. exporters sold 1.527 million metric tons of soybeans, beating the trade expectations of between 800,000 and 1.35 metric tons.

Meanwhile, U.S. corn export sales reached 1.88 million metric tons, also higher than the trade expectations of between 450,000 and 800,000 metric tons.

The upbeat data pushed up the prices of CBOT corn and soybeans.

Additional support came from Argentina as weather forecast showed that dry and hot weather would return there, which might lead to less-than-expected yields.

The USDA weekly report put U.S. wheat export sales at 190,600 metric tons, below the trade expectations of between 250,000 and 600,000 metric tons, dragging down CBOT wheat prices. Enditem