Chicago Board of Trade corn and soybean futures ticked higher in choppy trading on Wednesday, boosted by strength in the financial markets and as traders adjusted positions ahead of a government supply-and-demand report, market analysts said.
Fertilizer plants, livestock feed facilities and at least one large flour mill in Florida closed on Wednesday in preparation for Hurricane Milton's destructive winds, heavy rain and deadly storm surge.
Combining in Manitoba advanced 12 points at 85 per cent complete for the week ended Oct. 7. While some crops made great amounts of progress, others did not. The largest gains were made in the province's soybean and flax harvests as they are up 41 points apiece at 70 and 61 per cent finished respectively.
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.