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

       The most active corn contract for March delivery fell 1.25 cents, or 0.28 percent, to settle at 4.4225 U.S. dollars per bushel. March wheat rose 0.5 cents, or 0.09 percent, to settle at 5.825 dollars per bushel. March soybean plunged 21.5 cents, or 1.75 percent, to settle at 12.0575 dollars per bushel.

       Wheat found bids amid flood of wheat demand, and soybean was weaker as funds add to existing shorts. It is actual soybean yields in South America that will determine the fair value.

       A vast majority of South American corn will pollinate between February and April. Chicago-based research company AgResource is waiting for recoveries to move along cash sales.

       No other fresh news is available. The Energy Information Administration weekly ethanol and petroleum data is delayed until Friday following Monday's federal holiday.

       Weather outlook in Brazil leans favorable assuming regular rains returning to northern areas beyond Jan. 24. Warmth and dryness will blanket Central and Northern Brazil into the middle of next week. The core of Argentine agricultural belt stays arid over the next two weeks.