Chicago Board of Trade (CBOT) grains futures closed mixed on Wednesday with corn and soybean posting more-than one-percent gains.
The most active corn contract for December delivery rose 5.5 cents, or 1.41 percent, to 3.9625 dollars per bushel. September wheat delivery dropped 0.75 cent, or 0.15 percent to 5.03 dollars per bushel. November soybeans went up 10.75 cents, or 1.07 percent, to 10.125 dollars per bushel.
CBOT brokers estimated that funds bought 4,500 contracts of corn and 5,300 contracts of soybeans, while selling 3,200 contracts of wheat.
Traders were afraid that the mostly hot and dry weather model would affect the yields of corn and soybean, which pushed their prices much higher.
The wheat futures, however, saw decline for the sixth consecutive session due to the ample winter wheat stockpiles in the U.S. and expectations for another good harvest this year in Europe.
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