CHICAGO, Oct. 22 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural futures closed mixed on Friday, with corn and wheat rising and soybean falling slightly.

The most active corn contract for December delivery rose 5.75 cents, or 1.08 percent, to settle at 5.38 U.S. dollars per bushel. December wheat gained 14.75 cents, or 1.99 percent, to settle at 7.56 dollars per bushel. November soybean fell 3.5 cents, or 0.29 percent, to settle at 12.205 dollars per bushel.

World wheat futures are the bullish stalwart while soybeans are bearish anchor on rising U.S. end stocks and growing concern of lackluster China demand, Chicago-based research company AgResource noted.

Rising energy prices and inflationary concern underpins CBOT breaks, but better corn/soybean export demand is needed for a sustained rally. AgResource is bullish of wheat and corn on breaks with November soybean futures holding support below 12.00 dollars.

U.S. Department of Agriculture (USDA) did not announce any new U.S. soybean export sales to China. The sluggish U.S. soybean export sales pace caps CBOT rallies above 12.50 dollars without a weather threat in South America.

ADM canceled 1,314 deliverable Kansas wheat receipts overnight. The move was considered bullish by wheat traders. The EU is exporting wheat too quickly, while Russian export taxes are rising. The United States could export additional protein wheat in the last quarter of the 2021-2022 crop year.

Eastern and Central Midwest will stay wet over the next 10 days. Harvest delaying precipitation will impact Illinois, Indiana, Wisconsin and Michigan. The coming cold front will slow harvest and down corn amid saturated fields, and the wet trend will continue into November.

In South America, rain has been added for Buenos Aries in Argentina while other areas stay arid into Nov. 1. AgResource fears that a deepening drought lies ahead for Argentina into early 2022. Enditem

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