Chicago agricultural commodities futures ended mixed Wednesday, with corn falling and wheat and soybeans rising.
The most active corn contract for July delivery dropped 2 cents, or 0.45 percent, to close at 4.41 dollars per bushel. September wheat rose 3.5 cents, or 0.6 percent, to close at 5.8425 dollars per bushel. November soybeans went up 4.5 cents, or 0.37 percent, to close at 12.29 dollars per bushel.
Trading volume was low Wednesday, as U.S. Department of Agriculture (USDA) is scheduled to release its stocks and seeding report Monday.
U.S. producers are offering optimistic reports for new crop corn and soybean crops in most areas in Northwestern and South- Central Midwest.
Corn fell as a weekly report released by U.S. Department of Energy was in line with expectations, showing a buildup of inventory and fallback in U.S. ethanol production. Meanwhile, U.S. ethanol inventories increased by 2 percent to 765 million gallons, higher than last year.
USDA announced sales of 217,400 tonnes of new crop corn, and Mexico is the rumored buyer of U.S. corn.
Favorable weather in Northern Hemisphere is expected to keep pressure on corn, wheat, and soybean markets into the weekend amid building supplies. Weather forecast is mild and favorably drier following showers and storms on the weekend and early next week across the Northern Plains and Northwestern Midwest