Chicago wheat futures fell on Monday as ample supplies pressured prices, with worry receding that an intensified conflict between Russia and Ukraine could threaten Black Sea export shipments.
Chicago corn futures weakened on Thursday and soybeans struck fresh contract lows as Brazil and China came together for significant agricultural trade deals and weather in South America remained beneficial for both crops, analysts said.
U.S. soybean futures hit a two-week low on Wednesday and soyoil futures fell more than three per cent on expectations for plentiful South American soy harvests this year along with uncertainty about demand for soy-based biodiesel fuel, analysts said.
U.S. wheat futures rose for a third-straight session on Tuesday, posting a one-week high on fears of escalating war in the Black Sea breadbasket region amid rising tensions between Moscow and Washington over Ukraine, analysts said.
U.S. wheat futures climbed on Monday after the White House lifted restrictions that had blocked Ukraine from using U.S. missiles to strike deep within Russia, sparking concerns of an escalating war in the Black Sea breadbasket region.
Chicago Board of Trade soy futures rallied on Friday after China said it would cut its export incentives for used cooking oil, a move that could curtail the flood of imports into the U.S., market analysts said.
Chicago Board of Trade soybean and corn futures fell for a fourth straight day, as traders worried that biofuel policy changes under the incoming U.S. presidential administration of Republican Donald Trump would chill domestic demand.
Chicago Board of Trade wheat futures fell sharply on Wednesday, dropping to lows not seen since August, as the U.S. dollar surged after data showing U.S. inflation for October increased in line with expectations, which could result in fewer interest rate cuts.
Chicago soybean futures took a sharp dive on Tuesday as traders worried that President-elect Donald Trump's nominee for the head of the U.S. Environmental Protection Agency would take a less than friendly view of the biofuel industry, analysts said.
U.S. soybean futures reached a one-month peak on Friday and corn futures touched more than a four-month high after the U.S. Department of Agriculture lowered its U.S. harvest outlooks for both crops more than expected, traders said.