Chicago Board of Trade corn futures pulled back from a 16-month high on Wednesday as traders booked profits and anticipated that recent gains will drive bigger U.S. plantings this spring.
Chicago Board of Trade corn futures reached a 16-month high above $5 a bushel on Tuesday on robust U.S. export demand and expectations that inventories may tighten, analysts said.
Chicago Board of Trade wheat futures Wv1 soared on Friday to their highest price since October, and analysts said support from blistering cold weather in the Black Sea and U.S. Plains regions prompted short covering.
Chicago corn futures ticked up in rangebound trade on Thursday as stout export sales, weather concerns in Argentina and strong demand added support, analysts said.
Chicago soy futures eased on Wednesday, pushed lower by Tuesday's U.S. Department of Agriculture report that forecast higher-than-expected U.S. soybean stocks, and continued concerns over weak Chinese demand for U.S. soy, analysts said.
Chicago corn and soy futures drifted down on Tuesday after the U.S. Department of Agriculture projected U.S. end-of-season supplies above market expectations in a monthly supply-and-demand report, analysts said.
Chicago wheat and soybean prices came under pressure on Monday after U.S. President Donald Trump said he will impose punitive tariffs on aluminum and steel imports, raising concern over potential retaliation against U.S. grain and oilseed exports, analysts said.
Chicago Board of Trade corn, soybean and wheat futures weakened on Friday on renewed worries that trade disputes could hurt demand for U.S. farm products, analysts said.
Chicago Board of Trade wheat futures climbed to their highest level since October on Thursday as cold weather stoked concerns about potential crop damage in the Black Sea region, analysts said.
Chicago Board of Trade soybean futures jumped to their highest level since July on Tuesday as concerns eased that trade disputes will disrupt U.S. agricultural exports, analysts said.