Chicago Board of Trade grain and soybean futures rallied on Friday on money flow from managed funds, rising demand and weather concerns, analysts said.
Chicago corn futures dipped on Thursday after the U.S. Department of Agriculture projected domestic ending stocks will remain at a five-year high, despite a reduction from last month.
Chicago Board of Trade soy fell on Wednesday after hitting a one-month low as traders awaited a U.S. Department of Agriculture supply and demand report and Brazil's Conab crop forecast.
North American weather conditions should become a major influence on the activity in the grain and oilseed markets in the upcoming weeks as farmers turn their attention to spring seeding.
Chicago Board of Trade (CBOT) wheat, soy and corn futures fell for a second straight day on Tuesday, weighed down by sustained competition abroad and improving U.S. planting weather on the horizon, analysts said.
U.S. wheat futures spiked to a one-month high on Friday as the market was unsettled by spring weather risks in the northern hemisphere and renewed tensions in the Black Sea.
Soybeans dropped on Thursday following lower-than-expected weekly export sales data from the U.S. Department of Agriculture (USDA), seasonally rising supplies from the South American harvest and falling soyoil prices.
U.S. corn futures rose on Wednesday on technical buying and short covering that lifted prices from Tuesday's one-month lows as traders assessed Midwestern weather conditions before the spring planting season.
U.S. corn futures dropped on Tuesday on forecasts for good spring planting weather, easing concerns about a lower-than-expected acreage outlook from the U.S. Department of Agriculture (USDA) last week.