CHICAGO, Dec. 16 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural futures closed mixed on Friday, with corn and wheat falling and soybean rising.
The most active corn contract for March delivery fell 0.5 cents, or 0.08 percent, to settle at 6.53 U.S. dollars per bushel. March wheat lost 3.75 cents, or 0.5 percent, to settle at 7.535 dollars per bushel. January soybean rose 6.5 cents, or 0.44 percent, to settle at 14.8 dollars per bushel.
The recent rain across Northern and Central Brazil is producing favorable conditions with farmers discussing record soybean yield potential. Chicago-based research company AgResource sees wheat in broad trading range of 7.20 dollars to 8.00 dollars, while soybean will struggle to surpass 15.00 dollars and March corn 6.60 dollars.
Russian Federal Statistical Service (Rosstat) indicated that Russian grain stocks as of Dec. 1 were 39.4 million metric tons, up 10 million metric tons or 34 percent from last year. Russian Dec. 1 wheat stocks were pegged at 25.6 million metric tons, up 8.8 million metric tons from 2021; and corn stocks at 3.3 million metric tons, down 1.3 million metric tons.
An estimated one-third of the 2022 Ukraine corn crop is still in the field due to lack of harvest equipment, diesel, bad weather and blackouts.
It will be slightly wetter for Southern Brazil with shower chances noted for late Monday and Tuesday. Weather forecast offers a pattern of rain impacting Western Argentina in the 6-10 day period. The cooler temperatures and increasing rain chances will help advance crop seeding.
