CHICAGO, July 17 (Xinhua) -- Chicago agricultural commodities closed mixed Thursday, with wheat rising, corn up slightly while soybean slipping back.
The most active corn contract for December delivery rose 0.5 cents, or 0.13 percent, to close at 3.8725 U.S. dollars per bushel. September wheat gained 12.75 cents, or 2.37 percent, to close at 5. 5075 dollars per bushel. November soybean dropped 8 cents, or 0.73 percent, to close at 10.94 dollars per bushel.
A Malaysian passenger jet crashed Thursday near Russia-Ukraine border, with all the 280 passengers and 15 crew members on board reportedly being killed. Unconfirmed reports said the plane was shot down by militants, which sent wheat and corn up as grain markets fear an escalation of tensions in that region.
The U.S. Department of Agriculture (USDA) Foreign Agriculture Service reported that for the week ending July 10, the U.S. sold 11.8 million bushels of wheat, 42.1 million bushels of corn and 22 million bushels of soybean.
For the new crop year, only 187 million bushels of U.S. corn have been sold, well below the 1,700 million bushels of export projected by USDA.
Brazilian farmers are using Thursday's rally and become active soybean sellers, putting the country back in a competitive export position for August and September. Analysts fear the U.S. export demand could be slow to arrive with competitions from Brazil and Argentina.