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CHICAGO, Oct. 17 (Xinhua) -- Chicago Board of Trade (CBOT) grains futures close mixed on Monday, with futures prices for soybeans jumping amid robust demand for U.S. supplies and sharply higher prices for a vegetable oil made from the crop.
Wheat futures firmed on fund short-covering while corn fell slightly.
The most active corn contract for December delivery fell 0.25 cents, or 0.07 percent, to 3.54 dollars per bushel.December wheat delivery added 2.75 cents, or 0.65 percent, to 4.2375 dollars per bushel. November soybeans rose 15.75 cents, or 1.64 percent, to 9.7825 dollars per bushel.
Proof of ongoing strong demand for the oilseeds also buoyed the market, analysts said, with the U.S. Department of Agriculture reporting that 92.2 million bushels of soybeans were inspected for export in the week ended Oct. 13, which was the highest in a year.
Soybeans drew another support as the December Malaysian palm oil contract surged more than 4 percent, partly on forecasts of weaker production growth for the month of October.
Corn futures turned lower, retreating from early advances after the spot December contract failed to match Friday's two and half month high of 3.5875 dollars per bushel.
Farmer selling played a role as the U.S. harvest continued. Farmers have been reluctant sellers of corn this autumn, opting to store much of the crop and hold out for higher prices. But
some growers have been taking advantage of a roughly 30-cent rally in the December futures contract since Sept. 30.
Wheat futures firmed for a third straight session on technical buying, including fund-driven short-covering and a pick-up in global wheat export business. Enditem
