U.S. agricultural futures close mixed

CHICAGO, April 15 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural futures closed mixed on Thursday, with corn slipping and wheat and soybean rising.

The most active corn contract for May delivery fell 4 cents, or 0.67 percent, to settle at 5.9 dollars per bushel. July wheat rose 5.25 cents, or 0.81 percent, to settle at 6.555 dollars per bushel. May soybean gained 8.25 cents, or 0.59 percent, to close at 14.1825 dollars per bushel.

Soybean futures were higher on additional fund inflows and no material change to global weather patterns. Meanwhile, U.S. corn and soy balance sheets continue to tighten, and dryness across Western Europe will become a more pressing issue in May, Chicago-based research company AgResource noted.

The National Oilseed Processors Association (NOPA) member crush in March totaled 178 million bushels, as against 181.4 million bushels a year ago. Soybean oil stocks in March totaled 1.77 billion pounds, as against 1.9 billion pounds last year. Soaring soybean oil basis levels will keep crush profitable through summer.

U.S. Department of Agriculture (USDA) reported lackluster corn, soybean and wheat export sales. Corn sales through the week ending April 8 totaled 13 million bushels, as against 30 million bushels in the previous week; soybean export sales totaled 3 million bushels, as against cancelations of 3 million bushels in the previous week; old crop wheat sales were a net negative 2 million bushels amid modest cancelations from Japan, Mexico and South Korea. New crop wheat sales were 10 million bushels, as against 19 million bushels in the previous week.

There's no sign that China's need for feed has waned.

U.S. climate forecast offers the return of heat to all regions and below-normal precipitation to the entire Western U.S. Drought stays intact across the Dakotas and far Western hard red winter (HRW) wheat Belt. And major soil moisture draws are also offered to the Pacific Northwest (PNW), which is an issue for white wheat amid growing demand.

Dryness across the Dakotas and PNW will take center stage into early summer.

Meanwhile, it is much wetter across Mato Grosso do Sul and Parana in Brazil in the extended range period. Drought worsens elsewhere.

Regional global weather issues and the need for record North Hemisphere production offer strong support on breaks, AgResource holds. Corn remains the leader of the global agricultural space on tightening exportable supplies.