Chicago wheat, soybean futures up, corn down

CHICAGO, Aug 1 (Xinhua): Chicago agricultural commodities closed mixed yesterday with wheat and soybeans rising, corn falling.

The most active corn contract for December delivery lost 4.5 cents, or 1.21 per cent, to close at 3.67 US dollars per bushel.  Soybean contract for November delivery rose 0.75 cent, or 0.07 per cent, to close at 10.82 dollars per bushel. The most active wheat contract for September delivery rose 3 cents, or 0.57 per cent, to close at 5.3025 dollars per bushel.

Better-than-expected weekly export sales offered support to wheat and soybeans, while rising world crop estimates and expectations of improved US weather have capped short covering. US Department of Agriculture (USDA) reported that for the week ending July 24, US sold 6.8 million bushels of old crop corn, 6.9 million bushels of old crop soybeans and 29.4 million bushels of wheat.