Chicago soybean futures dropped on Wednesday as the U.S. Department of Agriculture's data showed rapid planting progress, and demand was slow, according to analysts.
Chicago wheat fell for a third straight session on Tuesday, as rain in growing areas of the U.S. Plains improved moisture for the crop, reinforcing expectations of a well-supplied market, according to analysts.
Chicago corn and soy futures eased on Friday ahead of a long weekend in the U.S., after President Donald Trump posted on social media that he recommended a 50 per cent tariff on goods from the European Union.
Chicago wheat futures fell on Thursday as a short-covering rally earlier this week that took prices to a one-month peak petered out, with traders seeing limited threats to Northern Hemisphere crops despite adverse weather concerns.
Chicago wheat futures extended gains on Wednesday, at one point rising to a one-month high, amid support by a weaker dollar and short-covering encouraged by production concerns, market analysts said.
Chicago Board of Trade wheat futures surged to a two-week high on Tuesday, as a weaker dollar and an unexpected decline in U.S. crop ratings encouraged more short-covering after prices hit a five-year low last week.
Chicago soybean futures on Thursday plummeted from the previous session's 10-month high, pressured by a sharp drop in soyoil caused by concerns over U.S. biofuel targets, traders said.
Chicago Board of Trade soybean futures set a nearly 10-month high on Wednesday as the truce in the U.S.-China tariff dispute and a proposal to extend a U.S. biofuel tax credit boosted hopes for demand.
Chicago soybean futures settled higher on Tuesday on strength from a temporary truce in the U.S.-China trade war and a bullish U.S. Department of Agriculture report, though profit-taking pressured prices throughout the session.
Chicago soybean futures notched a three-month high on Monday as a truce in the U.S.-China trade war and a bullish U.S. Department of Agriculture report helped prices recover to pre-trade war levels, traders and analysts said.