The first grain from Russia's new crop has arrived on the market, traders and analysts said on Monday, as top producing regions reported early harvesting results, with an expected drop in the Rostov region and a good harvest in Stavropol.
Chicago Board of Trade soybean futures touched a two-week high on Friday on worries that heat may threaten U.S. crops and expectations that the country's biofuel policy would boost demand for soyoil, analysts said.
Rain fell onto the southern half of Alberta last week, while hot and dry conditions persisted in the northern half, according to the province's crop report released on July 18.
Hard red spring wheat bids in Western Canada dropped with the U.S. futures during the week ended July 17, as the advancing U.S. winter wheat harvest and a lack of major concerns for North American spring wheat weighed on values.
Chicago Board of Trade soybean futures hit their highest level in more than a week on Thursday as technical buying helped the market recover from a three-month low reached on Monday, analysts said.
The International Grains Council on Thursday maintained its forecast for 2025/26 global corn production with a slightly improved outlook for crops in the United States offset by downward revisions for Hungary and Romania.
Chicago Board of Trade soybean futures jumped on hopes for U.S. export demand on Wednesday, while corn futures rose for a third day to extend a recovery from contract lows, analysts said.
Grain prices at the Chicago Board of Trade were on the weaker side for the week ended July 16 due to last week's USDA report and ongoing trade tensions.
Chicago Board of Trade corn futures extended slight gains on Tuesday as short covering and bargain buying continued to support a rebound from contract lows reached during the previous session.