Chicago corn, wheat futures trading edging down while soybeans rising

Chicago agricultural commodities futures market closed mixed Wednesday, with soybeans rising, corn and wheat dropping. The most active corn contract for July delivery fell 7.25 cents, or 1.44 percent, to close at 4.955 U.S. dollars per bushel. The most active soybean contract for July delivery rose 3 cents, or 0. 20 percent, to close at 14.8675 dollars per bushel. The most active wheat contract for July delivery fell 19 cents, or 2.68 percent, to close at 6.9025 dollars per bushel Corn finished lower with favorable planting weather in the forecast for the Midwest of the U.S. A soybean report by the National Oilseed Processors Association (NOPA) will be out Thursday with their April crush estimate. Analysts expect the NOPA to report a U.S. April crush of 140 to 142 million bushels,which is bullish to the trading on the day. Wheat prices went lower Wednesday as drought in the southwestern U.S. Plains took a backseat to more favorable world conditions and the emergence of a peace plan for Ukraine.