Chicago agricultural commodity futures were traded mixed Monday, with corn and wheat prices down while soybeans price up on negative production estimate.

The most active corn contract for December delivery fell 3.25 cents, or 0.70 percent, to close at 4.605 dollars per bushel. September wheat fell 15.25 cents, or 2.31 percent, to settle at 6. 4525 dollars per bushel. November soybeans rose 1.75 cent, or 0.15 percent, to close at 11.8325 dollars per bushel.

According to Chicago Mercantile Exchange (CME), for corn, a moderating and nonthreatening weather outlook for most of the Corn Belt over the next 5 days added fresh pressure to the trading. A private grains analyst released estimates for what they thought the U.S. Department of Agriculture (USDA) would forecast on their Aug. 12 supply and demand report.

The US corn was estimated at 14.14 billion bushels, down from prior forecasts and against the current USDA estimate of 13.95 billion. The yield was estimated at 158.6 bushels per acre compared with 156.5 bushels. For wheat, thoughts that Chinese demand may not be enough to act as a catalyst for higher prices given the discount European and Black Sea wheat hold to the US was a contributing factor to the lower trade.

According to the estimate, the US soybean was seen at 3.266 billion bushels, down from their prior estimate and compared to the USDA forecast of 3.42 billion bushels. The yield was estimated at 42.7 bushels per acre down from 43.9 previously and below the USDA forecast of 44.5 bushels. Endi

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