Chicago soybean and corn futures turned higher on Tuesday as a flurry of export sales helped stem market pressure from a fast-moving U.S. harvest and improved planting weather in South America, analysts said.
Chicago wheat futures fell sharply on Friday as rains were expected to benefit global wheat-growing regions, analysts said. A shift in Russian export policies also fuelled concerns that U.S. commercial grain companies will be left holding large supplies of wheat.
Chicago Board of Trade corn futures rose on Wednesday after the U.S. Department of Agriculture said exporters reported the biggest daily export sale of the grain in more than a year.
U.S. corn and soybean futures fell for a fourth straight session on Tuesday and hit multi-week lows, guided by sharp declines in equities and crude oil and forecasts for timely rains in Brazil that have tempered worries about early-season planting delays.
Soy and corn futures turned lower on Friday after the U.S. Department of Agriculture's supply and demand report confirmed the advancing harvests in the U.S. will be some of the largest on record.
Chicago wheat extended gains on Thursday as traders assessed whether increased tensions between Russia and Ukraine and persistent dryness in grain production areas around the world may curb global wheat exports, analysts said.
Chicago Board of Trade corn and soybean futures ticked higher in choppy trading on Wednesday, boosted by strength in the financial markets and as traders adjusted positions ahead of a government supply-and-demand report, market analysts said.
Chicago soybean and corn futures settled lower on Tuesday as brisk U.S. harvest progress and forecasts for rain in drought-hit Brazilian crop belts bolstered expectations of abundant global supplies, traders said.
Soybean futures eased on Monday on forecasts for rain in dry areas of top exporter Brazil and Argentina and on rising United States supplies as clear Midwest weather boosted harvesting.