Corn, soybeans and wheat futures closed mixed on the Chicago Board of Trade Friday, with corn falling, while wheat and soybeans rising.
The most active corn contract for December delivery lost 0.5 cents, or 0.13 percent, to close at 3.7275 U.S. dollars per bushel. The most active soybean contract for January delivery rose 18.5 cents, or 1.81 percent, to close at 10.39 dollars per bushel. The most active wheat contract for March delivery went up 1 cents, or 0.18 percent, to close at 5.535 dollars per bushel.
Analysts said that soybean and wheat advanced on speculation that global interest-rate cuts will spur economic growth and food demand, especially at the end of the year.
The People's Bank of China, China's central bank, on Friday announced the first interest rate cuts in more than two years. Meanwhile, European Central Bank President Mario Draghi reiterated Friday his determination to apply more aggressive measures including large scale asset purchases. Analysts noted that soybeans and soybean oil see a rise thanks to moves to stimulate growth in China and Europe, which also put bid to wheat.
Wheat prices also gained for the second day on the concern that cold weather will cause a decrease in sown area of the crop in America.