CHICAGO, June 2 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural futures closed mixed on Thursday, with corn falling slightly and wheat and soybean rising.

       The most active corn contract for July delivery fell one cent, or 0.14 percent, to settle at 7.3025 U.S. dollars per bushel. July wheat rose 17 cents, or 1.63 percent, to settle at 10.5825 dollars per bushel. July soybean soared 39 cents, or 2.31 percent, to settle at 17.2925 dollars per bushel.

       Funds were huge spreaders of long July corn and short July soybeans following March 31 Seeding Intentions report on the idea that record large U.S. soybean seeding was going to cause the spread to narrow. End users are using CBOT break to extend forward coverage due to increasing margin.

       Chicago-based research company AgResource holds that a Ukraine export corridor is unlikely, and the absence of wheat and corn coming from Ukraine will become more important with time. AgResource stays bullish.

       China will be on a three-day weekend with the Dragon Boat Festival holiday on Friday. There are rumors that China has booked another 3 to 5 cargoes of U.S. soybeans and are also seeking U.S. corn for September-November shipment.

       U.S. Department of Agriculture (USDA) reported that Pakistan purchased an unusually large 352,000 metric tons of U.S. soybeans. Pakistan has already purchased 640,000 metric tons of U.S. old crop soybeans and 6,300 metric tons of new crop soybeans before.

       U.S. weekly ethanol production rose to 315 million gallons, well above the 307 million gallons that is needed to reach USDA's annual target. U.S. ethanol stocks fell by 32 million gallons to 964 million gallons.

       Rumors abound that the Environmental Protection Agency (EPA) will raise its 2022 mandates for ethanol and advanced biofuels in announcements due by June 4.

       It is slightly drier for the Central Plains and the Western Midwest. An active pattern of precipitation will be in place across the Southeast Plains and the Delta. Limited precipitation is forecast for the Canadian Prairies, which will aid planting.