U.S. agricultural futures close mixed

By Xu Jing

CHICAGO, Feb. 6 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural futures closed mixed on Monday, with corn rising and wheat and soybean falling.

The most active corn contract for March delivery rose 1.5 cents, or 0.22 percent, to settle at 6.79 U.S. dollars per bushel. March wheat fell 6.5 cents, or 0.86 percent, to settle at 7.5025 dollars per bushel. March soybean lost 10.75 cents, or 0.7 percent, to settle at 15.2125 dollars per bushel.

CBOT grain futures were lower on a gain in the U.S. dollar, rising tensions between the United States and China, and potential rain across the key crop areas of Argentina this weekend and early next week.

The 50-day moving average crosses at 6.65 dollars for March corn and 14.92 dollars for March soybeans. Chicago-based research company AgResource maintains a view of selling CBOT rallies.

U.S. Department of Agriculture (USDA) confirmed that Mexico purchased 200,000 metric tons of U.S. corn, and U.S. exporters sold another 118,000 metric tons of corn to Japan.

The devastating earthquake in southern Türkiye has not caused delays in Black Sea grain inspections or shipments.

U.S. export inspections for the week ending Feb. 8 were 18.9 million bushels of corn, 19.7 million bushels of wheat and 67.2 million bushels of soybeans.

For respective crop years to date, the United States has exported 493 million bushels of corn, down 33 percent year on year; 1,392 million bushels of soybeans, up 1 percent; and 505 million bushels of wheat, down 2 percent.

Statistics Canada will release its closing January grain stocks Tuesday.

Extreme heat returns to Argentina this week but will abate next week. Projected rain in Brazil has improved for RGDS and Parana.

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