Chicago soybean and corn futures settled lower on Tuesday as brisk U.S. harvest progress and forecasts for rain in drought-hit Brazilian crop belts bolstered expectations of abundant global supplies, traders said.
Soybean futures eased on Monday on forecasts for rain in dry areas of top exporter Brazil and Argentina and on rising United States supplies as clear Midwest weather boosted harvesting.
Russia's grain harvest will be hit by the impact of Ukraine's attacks on grain-producing regions close to the border and by bad weather in many other regions.
Chicago wheat dropped for a second day on Friday, moving further from a 3-1/2 month high reached this week as a stronger dollar made U.S. exports look less attractive.
Chicago | Reuters — Chicago wheat and corn futures dipped on Thursday on technical trading after surging to June highs this week. Wheat had climbed to a 3-1/2-month peak as traders monitored drought in the important Black Sea region and signs of possible Russian export caps. Corn exceeded a three-month peak on Wednesday, underpinned by […] Read more
Harvesting in Saskatchewan is in the home stretch as warm and dry conditions for the week ended Sept. 30 saw a 12-point gain to 91 per cent complete, the provincial agriculture department reported.
Corn production in China is expected to increase to 293 million tonnes in 2024/25, said a report from the United States Department of Agriculture attache in Beijing, with improved yields overriding a slight reduction in harvested area.
Chicago Board of Trade wheat futures rose further on Wednesday, setting a new 3-1/2-month high, as concern grew about drought in Russia while a drone attack on a Ukrainian river port kept attention on war risks.