Chicago Board of Trade (CBOT) grains closed mixed on Tuesday, with wheat futures dropping one percent on technical selling and abundant global stockpiles.
Soybeans futures were slightly higher, hovering near roughly six-week highs amid warm and dry conditions that stressed the developing crop in Argentina, world's largest producer after the U.S. and Brazil.
The most active corn contract for March delivery fell 0.75 cent, or 0.21 percent, to close at 3.5125 dollars per bushel. March wheat delivery went down 4.25 cents, or one percent, to close at 4.25 dollars per bushel. March soybeans added two cents, or 0.2 percent to settle at 9.8625 dollars per bushel.
Export inspections were higher for corn and soybeans last week while lower for wheat, the U.S. Department of Agriculture (USDA) said in a report Tuesday.
Inspections of corn for delivery to overseas buyers rose to 668,946 tons in the seven days that ended on January 18, according to the USDA.
Soybean assessments totaled 1.42 million tons, up from 1.24 million a week earlier and 1.30 million during the same week in 2017, the government said.
Wheat inspections fell to 337,980 tons last week vs. 369,749 tons seven days earlier, USDA data show. Enditem
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