Chicago agricultural commodities close mixed in thin trade volume

CHICAGO, Dec 27 (Xinhua): Chicago Board of Trade agricultural commodities closed mixed Friday, with corn, soybeans rising while wheat falling slightly.

The most active corn contract for March delivery rose 7.00 cents, or 1.72 per cent, to close at 4.1475 US dollars per bushel. Soybeans for March delivery added 18.75 cents, or 1.81 per cent, to close at 10.54 dollars per bushel. Wheat for March delivery lost 0. 75 cents, or 0.12 per cent, to close at 6.1075 dollars per bushel.

The soybean rose on concerns that severe flooding in Malaysia will disrupt production of palm oil, an alternative for soy oil, Analysts said. There is news that palm oil production in Malaysia, one of the main exporter of palm oil in the world, will fall 11 per cent in December.

Analysts attributed the corn's rise to short covering at the end of the year.

The volume of trade remained thin on Friday because of holiday reduction.