CHICAGO, Feb. 17 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural futures closed mixed on Wednesday, with corn rising slightly and wheat and soybean dropping.

The most active corn contract for March delivery rose 0.75 cent, or 0.14 percent, to settle at 5.53 dollars per bushel. May wheat plunged 13.5 cents, or 2.04 percent, to settle at 6.48 dollars per bushel. March soybean fell one cent, or 0.07 percent, to close at 13.8375 dollars per bushel.

Trade volume was modest with China and most of South America still out for holidays. The sagging wheat has been a bearish catalyst for the summer row crops, but unease about warming and dry weather in Argentina and Southern Brazil has limited any fresh selling, Chicago-based research company AgResource noted.

Holidays in South America have ended, and it will take a few days before life returns to normal in South America.

The 10 Year Baseline Report released Wednesday offers 2021 seeded acres of 90.0 million acres of U.S. corn, 89.0 million acres of soybeans and 46.0 million acres of wheat. The report indicated trend yield estimates of 180.5 bushels per acre (BPA) in corn, 49.1 BPA in wheat and 50.6 BPA in soybeans.

Weather forecast shows that a trend of well below normal rainfall will continue across the southern third of Brazil and the entirety of Argentina.

The U.S. Department of Agriculture will hold its Annual 2021 Outlook Forum starting Thursday, and within the forum, the World Agricultural Supply and Demand Estimates (WASDE) will offer its first 2021-2022 U.S. major crop seeding/balance sheets. AgResource does not expect bearish surprises from WASDE. Enditem

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