Corn futures at the Chicago Board of Trade were mixed in choppy dealings on Friday as traders await the release next Friday of USDA's March planting intentions report.
"What really counts is the end of the month, a week from today...that and the weather," said Vic Lespinasse, floor spokesman for A.G. Edwards and Co. At 10:12 am CDT (1512 GMT), CBOT corn was down 2 cents per bushel to up 2-1/4, with May down 2-1/4 at $4.07-1/4 per bushel. July was down 1-1/2 at $4.19-1/2 and new-crop December was up 1 at $4.10-1/2 per bushel.
Positioning before the weekend and ahead of the widely anticipated Mar. 30 government plantings estimate overrode perceptions of bullishness stemming from higher crude oil markets and talk China might import corn this year.
"If the market really thought that was right then there would have been a big reaction," Lespinasse said referring to the talk of Chinese corn imports. Oat futures were down 4-1/2 cents per bushel to up 2-1/4, with May down 4-1/2 at $2.89-1/4.