Chicago agricultural commodities close mixed

Chicago Board of Trade (CBOT) corn unchanged on Tuesday, wheat retreated a little, while soybeans continued to climb to a one-week high.

The most active corn contract for July delivery was unchanged at 3.8525 dollars per bushel. September wheat delivery shed 1 cents, or 0.22 percent, at 4.5725 dollars per 7bushel. November soybeans added 15.50 cents, or 1.40 percent, to at 11.2025 dollars per bushel.

In its weekly crop progress report released on Monday, the U.S. Department of Agriculture (USDA) rated 75 percent of the U.S. corn in good to excellent condition, unchanged from last week, but 7 percent higher than previous year.

In the report, USDA rated winter wheat harvested at 45 percent, compared with previous week of 25 percent and the five-year average of 41 percent. Analysts noted that the numbers showed winter wheat harvest advanced, weighing on wheat lower on Tuesday.

In addition, USDA rated 62 percent of winter wheat in good to excellent condition, also higher than the number of previous week and previous year.

Soybeans extended gains as USDA rated 72 percent of the U.S. soybean in good to excellent condition, which is 1 percent lower than last week's 73 percent.

Additionally, the weak U.S. dollar on Tuesday also helped soybeans higher, especially after USDA announced two export sales of soybeans. On Monday, USDA announced that private exporters reported export sales of 150,000 tons of soybeans for delivery to unknown destinations. USDA already announced Friday export sales of 411,500 tons of soybeans to unknown destinations.

Meanwhile, concerns of hotter and drier weather may dent the blooming of soybean in some field in U.S. Midwest also extended pressure on soybean, accoridng to analysts
Source;XINHUA