Chicago corn, soybeans and wheat futures closed mixed on Friday, with corn and soybeans rising, and wheat falling.
The most active corn contract for December delivery rose 2.75 cents, or 0.74 percent, to close at 3.7675 U.S. dollars per bushel. January soybean rose 19.5 cents, or 1.9 percent, to close at 10. 4925 dollars per bushel. December wheat fell 3.5 cents, or 0.65 percent, to close at 5.325 dollars per bushel.
Soybean rose on strong soymeal and supportive short term bullish technical trends. The transportation bottleneck has not been solved yet, pushing up the soybean price. But end users in the eastern and southeastern U.S. are going to secure more trucked meal to make sure there is ample supply.
Wheat fell for a second straight day Friday on the rising U.S. dollar and the outlook for ample supplies after the International Grains Council raised its production forecast for the fifth month in a row.
The weather forecast shows an improved winter for the U.S. Midwest, and analysts say a repeat of the polar vortex is unlikely.
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