Chicago agricultural commodities post mixed performances

Chicago agricultural commodity futures posted a mixed performance Thursday, with corn and wheat futures down on light profit taking, while soybeans up due to a potential export demand from China. The most active corn contract for March delivery fell 5.25 cents, or 0.69 percent, to close at 7.5875 dollars per bushel. March wheat lost 5.75 cents, or 0.65 percent, to settle at 8.855 dollars per bushel. January soybeans rose 1.75 cents, or 0.12 percent, to close at 14.48 dollars per bushel. According to the Chicago Mercantile Exchange (CME), March corn traded lower on light profit taking and pressure from a weaker wheat market. Export sales were disappointing, which triggered the move lower. Sales came in at 236,100 tons for the current marketing year and 27,400 for the next marketing year, but below market expectations, according to the U.S. Department of Agriculture (USDA). Chicago wheat traded lower into the closing bell on profit taking following an export sales report that came in below market expectations. As of November 22, net weekly export sales for U.S. wheat came in at 279,300 tons for the current marketing year and no sales were reported for the next marketing year. In soybean market, January soybeans ended the day nearly unchanged. According to market analysts, early strength was linked to speculations that China will be in the market for 3-4 million tons of soybeans in the coming weeks after canceling cargoes earlier this month.