Chicago Close: Corn, Soys Little Changed; Wheat Up on Short Covering 

Corn and soybean futures were little changed on Wednesday, while wheat gained. 

Short covering helped to boost wheat for the second straight day, with the Hard Red Winter Kansas City market seeing particularly good gains on the day. December Chicago gained 12 1/4 cents to $5.56, December Kansas City jumped 27 cents to $6.40, and December Minneapolis added 2 ¼ cents to $6.96 ¾. 

Soybeans were held down by improving weather in parts of South America. Dry areas of Brazil are expected to see rains beginning this weekend, while the drier portions of western Argentina are forecast to see showers this week as well. January beans inched up a 1/2 cent to $13.47 and March gained ¾ of a cent to $13.65 ½. 

Corn was mixed, with minor support coming from fund buying. December slipped 1 ¾ cents to $4.49 ¾ but March was up 2 ¼ cents at $4.75 ¾. 

Source: DePutter Publishing Ltd.

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