CHICAGO, Nov. 8 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural futures settled mixed on Friday, with corn futures rising slightly after a government crop report lowered its U.S. yield and harvest forecast.
The most active wheat contract for December delivery decreased 2.25 cents, or 0.44 percent, to settle at 5.1025 U.S. dollars per bushel. December corn was up 2 cents, or 0.53 percent, to settle at 3.7725 dollars per bushel. January soybeans fell 5.5 cents, or 0.59 percent, to 9.31 dollars per bushel.
In its November world crop supply and demand report, the U.S. Department of Agriculture(USDA) pegged the U.S. corn production at 13.661 billion bushels, compared with its October estimate of 13.779 billion bushels and the trade's expectation of 13.643 billion.
For yield, the USDA sees it averaging 167.0 bushels per acre (bpa) vs. the trade's expectations of 167.5 bpa and the government's October estimate of 168.4 bpa.
Soybeans fell as the USDA left its U.S. crop yield and harvest outlooks unchanged despite poor weather this summer and fall that had many market observers expecting cuts.
The U.S. soybean output is pegged at 3.549 billion bushels vs. the avg. trade estimate of 3.510 billion bushels and the USDA's October estimate of 3.55 billion.
The USDA sees the U.S. soybean yield averaging 46.9 bpa vs. the trade's expectation of 46.6 bpa and the USDA's October estimate of 46.9 bpa. Enditem
