U.S. corn futures extended gains into a fourth session on Friday and posted the first weekly rise in a month as slow farmer sales of newly harvested grain and reports of lower-than-expected harvest yields supported the market.
Earlier this week Heath MacDonald, Canada’s Minister of Agriculture and Agri-Food and Mexico’s Secretary of Agriculture and Rural Development, Julio Berdegué, met to discuss bilateral relations and strengthen cooperation and trade ties between the two countries.
U.S. corn futures rose for a third straight day on Thursday and hit a 1-1/2 week high on reports of lower-than-expected harvest yields in some areas of the Midwest and forecasts for rain that could delay further field work.
U.S. corn futures gained on Wednesday as slow farmer sales of newly harvested grain firmed cash market prices and triggered short covering and technical buying in the futures market.
Russia’s seaborne grain exports fell to 5.1 million metric tons in September, 10.1 per cent down on the same month of 2024, according to shipping data.
Chicago Board of Trade soybean futures plummeted on Friday as trade restrictions announced by China and escalating rhetoric from U.S. President Donald Trump cooled hopes of a resolution to a standoff between Washington and Beijing.
U.S. data vital to global grain and soybean trading has gone dark during the country’s federal government shutdown, leaving commodity traders and farmers without crop production estimates, export sales data and market reports during the peak of the autumn harvest.