Chicago soybean futures lost more ground on Tuesday, setting another four-year low a day after U.S. Department of Agriculture data reinforced the prospect of a bumper U.S. harvest.
Chicago corn and soy futures closed near four-year lows on Friday and posted weekly losses, while wheat prices rose on expectations of a poor crop in France as traders positioned for Monday's U.S. supply and demand report.
Chicago Board of Trade (CBOT) corn futures fell on Thursday, and soybean futures set new life-of-contract lows, as U.S. farmers scramble to sell their bins of old-crop grain and oilseeds into a global market awash in supplies, traders said.
Chicago Board of Trade corn and soybean futures turned lower on Wednesday as markets came under pressure from expectations of a U.S. bumper crop, moderate weather in the Midwestern corn belt and sluggish oilseed demand, traders said.
Chicago soybeans and corn slumped on low demand and a stronger dollar on Tuesday as financial markets recovered from an epic sell-off on Monday. Wheat futures rose after a massive tender from Egypt for 3.8 million metric tons to cover imports between October 2024 and April 2025βits largest ever according to traders.
Chicago Board of Trade grain and soybean futures turned higher on Friday as market participants and fund traders scrambled to cover their hefty short positions on signs of the U.S. economy weakening, market analysts said.
U.S. corn and soybean futures fell to their lowest levels in nearly four years on Thursday as forecasts for cool, rainy weather in the Corn Belt boosted yield expectations, analysts said.
Chicago December corn futures settled below $4 and hit a contract low on Wednesday as favorable U.S. crop prospects weighed and farmers began selling their hefty supplies of old crop corn, traders said.
Chicago soybean prices plunged on Monday to the lowest since October 2020, as forecasts for rain in the U.S. crop belt alleviated concerns over the potential impact on crop yields from hot and dry weather.
Chicago Board of Trade soybean and corn futures plunged on Friday but were set for weekly gains, as weather forecasts indicated positive news for crops in the central United States.