CHICAGO, Dec. 20 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural futures ended mixed on Friday, with corn and soybeans reversing a two-day downturn.
The most active corn contract for March delivery was up 1.25 cents, or 0.32 percent, to close at 3.8775 U.S. dollars per bushel. March wheat was down 3 cents, or 0.55 percent, to settle at 5.4225 dollars per bushel. January soybeans were up 3.75 cents, or 0.41 percent, to close at 9.2825 dollars per bushel.
Profit taking had dragged down CBOT prices in the past two days, and short covering on Friday pushed up corn and soybean futures.
The latest development that the House of Representatives finally passed the U.S.-Mexico-Canada Agreement (USMCA) also offered support, said market watchers.
"Mexico and Canada are the U.S. corn industry's largest, most reliable markets," said the U.S. National Corn Growers Association. The association expressed its hope in a statement that the U.S. Senate can quickly pass USMCA in the new year.
Meanwhile, Mexico is the No. 2 market for U.S. whole beans, meal and oil, and Canada is the No. 4 buyer of U.S. soy meal, so the USMCA's passage in the House was also welcomed by the American Soybean Association.
As Mexico's flour millers import more U.S. wheat than any other country, according to the U.S. Wheat Associates, the approval in House on Thursday was described as "a crucial step" toward rebuilding trust in the United States as a reliable supplier.
Yet CBOT wheat futures failed to end in the positive territory as funds were estimated to sell 2,400 contracts on Friday.
CBOT brokers said funds bought some 4,100 contracts of corn and 3,400 contracts of soybeans. Enditem
