Chicago Board of Trade (CBOT) grains futures closed mixed on Wednesday with corn futures sinking to their lowest levels of the year on fund-driven technical selling and plentiful global grain supplies.

Wheat futures rose on bargain-buying after front months fell to contract lows, while soybean futures firmed modestly.

Soybeans drew support from expectations for increased domestic demand for soyoil, after the U.S. government late on Tuesday imposed duties on imports of Argentine and Indonesian soy biodiesel. Soyoil is the primary feedstock for biodiesel fuel.

The most active corn contract for December delivery fell 4.25 cents, or 1.18 percent, to 3.5575 dollars per bushel. December wheat delivery went up 1 cent, or 0.23 percent to 4.3 dollars per bushel. November soybeans rose by 0.5 cent,or 0.05 percent, to 9.38 dollars per bushel.

In the outside markets, the Brent crude oil market is 0.57 dollar per barrel higher, the U.S. dollar is lower, and the Dow Jones Industrials are 68 points lower.

SPGlobal senior grain analyst Pete Meyer says that this week's crop tour is not moving the market, because scouts are not finding any real clear story.