Chicago agricultural commodities closed mixed Wednesday with corn and soybeans rising and wheat dropping.
The most active corn contract for July delivery rose 2.75 cents, or 0.59 percent, to close at 4.725 U.S. dollars per bushel. The most active soybean contract for July delivery rose 9 cents, or 0. 60 percent, to close at 14.9775 dollars per bushel. The most active wheat contract for July delivery fell 2.25 cents, or 0.35 percent, to close at 6.3875 dollars per bushel.
Corn rose as technical buying rebounded its price after large losses on Tuesday.
Soybeans rose as the U.S. Department of Agriculture reported that 110,000 metric tons of new crop U.S. soybeans were sold for 2014-2015 to China and that 172,000 metric tons of new crop U.S. soymeal sold to the Philippines.
Wheat fell as Algeria booked 700,000 metric tons of French wheat Wednesday morning at a very cheap 248 dollars per metric ton. The offers were aggressive as world wheat importers are trying to entice new crop sales. The better weather conditions in the U.S. were the main reason why wheat price dropped to three-month lows in recent days, according to market analysts.