Chicago Board of Trade (CBOT) grains futures closed mixed on Tuesday with wheat continuing its rally amid concerns of tight stocks.

The most active corn contract for July delivery fell 5.25 cents, or 1.4 percent, to 3.7 U.S. dollars per bushel. July wheat delivery gained 5.5 cents, or 1.18 percent, to close at 4.725 dollars per bushel. July soybeans went down 10 cents, or 1.07 percent, to 9.2775 dollars per bushel.

CBOT floor brokers reported that funds sold 7,000 contracts of corn and 5,400 contracts of soybeans, while buying 4,000 wheat.

The U.S. spring wheat is reportedly tight in stocks, while the U.S. Department of Agriculture has recently estimated that EU old crop wheat end stocks are also low. EU crop watchers are now forecasting that their 2017 wheat crop is less than last year's 141 million metric tons. These have obviously pushed the CBOT wheat futures higher.

Favorable weather in the corn and soybean growing U.S. Midwest again pressured on their futures, which saw losses for the second consecutive session.