CHICAGO, Oct. 13 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural futures closed mixed on Friday, with corn and soybeans falling and wheat rising.
The most active corn contract for December delivery fell 2.75 cents, or 0.55 percent, to settle at 4.9325 U.S. dollars per bushel. December wheat rose 8.25 cents, or 1.44 percent, to settle at 5.7975 dollars per bushel. November soybean lost 9.75 cents, or 0.76 percent, to settle at 12.8025 dollars per bushel.
Soybean retreated on tepid export demand, while wheat rose on newfound interest for U.S. origin from China. Position squaring dominated price discovery on Friday.
Seasonal trends are positive into spring, but the speed and intensity of recoveries will hinge upon the duration of unwanted dryness in Argentina and Central and Northern Brazil. South American weather will dominate price discovery beginning in late October.
In the week ending Oct. 5, U.S. exporters sold net 36 million bushels of corn, as against 71 million bushels in the previous week; net 39 million bushels of soybeans, as against 30 million bushels in the prior week; and a sizable 24 million bushels of wheat, as against 10 million bushels in prior week.
For respective crop years to date, the United States has sold 602 million bushels of corn, up 14 percent year on year; 371 million bushels of wheat, down 9 percent; and 717 million bushels of soybeans, down 31 percent.
China was confirmed to have purchased 8 million bushels of U.S. origin soft red winter (SRW) wheat, and was announced to have secured another 7 million bushels Friday.
New crop U.S. soymeal exports sit at 4.6 million metric tons, up 48 percent year on year.
The National Oilseed Processors Association (NOPA) crush date will be released on Monday.
Heavy rainfall is forecast across the Southern U.S. in the 6-10 day period, while Texas and Oklahoma face another 10 days of dryness. Moderate rainfall moves across the Great Lakes and far Eastern Midwest into Sunday.
