CHICAGO, March 15 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural futures closed mixed on Friday, with corn and soybean rising and wheat falling.
The most active corn contract for May delivery rose 3 cents, or 0.69 percent, to settle at 4.3675 U.S. dollars per bushel. May wheat fell 3.75 cents, or 0.7 percent, to settle at 5.285 dollars per bushel. May soybean gained 3 cents, or 0.25 percent, to settle at 11.9825 dollars per bushel.
It is estimated that Brazilian soybean harvest is 63 percent to 65 percent completed as of Friday.
March U.S. Department of Agriculture (USDA) Stocks and Seeding report will create massive market volatility with a 3-day Easter weekend ahead. Chicago-based research company AgResource doubts that combined U.S. corn and soybean acres will surpass 178 million acres this year, down 1.5 million acres from last year due to negative profit margins.
The National Oilseed Processors Association (NOPA) reported a record smashing crush rate of 186.2 million bushels in February, 20.8 million bushels above last year and 19.2 million bushels above the record.
Improved rainfall impacts Mato Grosso and Goias across Brazil. Soaking rainfall is forecast for Southern Brazil and Far Northeast Argentina. Enough rain looks to drop across the remainder of Argentina for favorable crop development with the early corn harvest underway.
