Chicago wheat fell on Tuesday from peaks not seen since December, while corn eased from four-month highs as investors gauged the impact of harsh weather in some major production zones.
Wheat production in the central Asia country of Kazakhstan is expected to bounce back in 2024/25 according to the United States Department of Agriculture attaché in the capital of Astana.
Soybean production in Argentina has been projected to increase slightly in 2024/25, according to the United States Department of Agriculture attaché in Buenos Aires.
Chicago Board of Trade (CBOT) benchmark wheat futures fell on Wednesday after ticking up in the early session as much-needed rainfall reaches key wheat-growing areas of the U.S. Plains and southern Russia.
The U.S. Food and Drug Administration said on Wednesday that preliminary results of additional testing of more dairy products has shown that pasteurization inactivates the bird flu virus.
U.S. soybean futures fell nearly two per cent on Tuesday as falling soyoil prices dragged down the soy complex amid weak demand, deliveries against the May futures contract and market uncertainty, traders said.
Chicago benchmark wheat futures WN24 fell more than two per cent on Monday, snapping a seven-session rally, as the crop outlook in top exporter Russia improved on forecasts for rain, analysts said.
About one in five samples of commercial milk in the U.S. tested positive for traces of bird flu in a national survey, with a greater proportion coming from areas with infected herds, the U.S. Food and Drug Administration said.