United States wheat futures rose sharply during the week ended May 15, while corn and soybean futures at the Chicago Board of Trade (CBOT) were in a rangebound, up-and-down pattern.
Chicago Board of Trade soybean futures dipped on Tuesday as analysts said the market was disappointed that U.S. President Joe Biden's administration did not include used cooking oil on a list of tariff increases on Chinese goods.
Chicago Board of Trade wheat futures rose on Monday, hitting nine-month highs on worries about crop losses in top-exporter Russia after multiple nights of frosty weather in key regions.
Chicago corn futures advanced on Friday after the U.S. Department of Agriculture (USDA) projected U.S. stockpiles of the grain below market expectations.
Chicago wheat futures rose on Thursday as Russia declared a state of emergency in key grain-growing regions due to frosts, while soybeans and corn fell ahead of a monthly U.S. Department of Agriculture supply-and-demand report due on Friday.
Chicago Board of Trade wheat futures fell on Wednesday despite weather risks in top exporter Russia, highlighting the size of its supply as the country continues to dominate global export markets.
Chicago wheat fell on Tuesday from peaks not seen since December, while corn eased from four-month highs as investors gauged the impact of harsh weather in some major production zones.
Chicago Board of Trade (CBOT) benchmark wheat futures fell on Wednesday after ticking up in the early session as much-needed rainfall reaches key wheat-growing areas of the U.S. Plains and southern Russia.
U.S. soybean futures fell nearly two per cent on Tuesday as falling soyoil prices dragged down the soy complex amid weak demand, deliveries against the May futures contract and market uncertainty, traders said.