(Photo: Getty Image)

CHICAGO, May 4 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural futures closed mixed in the trading week which ended May 3, with soybeans falling over 2 percent, mostly on weak export demand from overseas markets.

The most active contract for July soybeans dropped 24.75 cents weekly, or 2.86 percent, to 8.4225 dollars per bushel. July wheat was down 4.5 cents, or 1.02 percent, to 4.38 dollars per bushel. July corn went up 9.5 cents, or 2.63 percent, to 3.7075 dollars per bushel.

CBOT soybean futures eased on Friday for a sixth consecutive session, posting a fourth straight weekly drop as rain-delayed U.S. corn planting may fuel a shift to more soybean acres despite sluggish export demand from overseas markets.

According to U.S. Department of Agriculture (USDA) weekly export sales report released on Thursday, private traders exported 336,900 tonnes soybeans during the week ending April 25, far below analysts' forecasts and the prior week's total of 618,998 tonnes.

Funds continue to add to their net short position, and Friday's Commitments of Traders report showed that they are now net short a record large 148,500 contracts. Funds are adding to the position on ideas that many corn acres could be switched to soybeans.

Corn futures were under pressure from mild profit-taking after seven straight days of gains. But by short-covering and concerns about planting delays in the U.S. Midwest provide support for the market.

The USDA report shows weekly corn export sales totaled 796,000 tonnes, which is in line with analysts' forecasts for 600,000 to 1.1 million tonnes. In the previous week, corn export sales came in at 782,872 tonnes.

Wheat futures declined as massive supply base continues to hang over the market.

The USDA said in the report that export sales of wheat totaled 419,400 tonnes in the latest reporting week, down from 651,444 tonnes a week ago.