Chicago agricultural commodities mixed

Chicago agricultural commodity futures were traded mixed Tuesday, with corn and wheat prices down and soybean price rising slightly. The most active corn contract for December delivery dropped 16. 75 cents, or 3.61 percent, to 4.4725 dollars per bushel. Wheat for December delivery traded at 6.415 dollars per bushel, down 1.16 percent. Soybeans futures for November delivery rose 2.5 cents, or 0.21 percent, to 12.2775 dollars per bushel. The December corn contract dropped sharply Tuesday on 14.5 percent stocks-to-use ratio and the inconsistent calculation of ear weight by the U.S. Department of Agriculture. Meanwhile, rising temperatures in the next two weeks may affect growing degree days and crop maturity. The December wheat contract closed lower Tuesday on a stronger dollar. A stable global supply of wheat will remain a long-term factor on the market. November soybean traded slightly higher Tuesday on reports that the maturity of the crop is behind schedule, adding to the risk that a significant portion of the crop could be damaged by an early frost or freeze, particularly in the northern Midwest. Weather in August and September is likely to be a determining factor for soybean prices.