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.
Ukraine's 2024/25 grain exports are likely to decrease to around 40 million metric tons from almost 51 million tons in 2023/24 due to a smaller harvest, the first deputy agriculture minister Taras Vysotskiy said on Friday.
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.
Combining in Manitoba advanced 12 points at 85 per cent complete for the week ended Oct. 7. While some crops made great amounts of progress, others did not. The largest gains were made in the province's soybean and flax harvests as they are up 41 points apiece at 70 and 61 per cent finished respectively.
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.
Chicago wheat dropped for a second day on Friday, moving further from a 3-1/2 month high reached this week as a stronger dollar made U.S. exports look less attractive.
Chicago | Reuters — Chicago wheat and corn futures dipped on Thursday on technical trading after surging to June highs this week. Wheat had climbed to a 3-1/2-month peak as traders monitored drought in the important Black Sea region and signs of possible Russian export caps. Corn exceeded a three-month peak on Wednesday, underpinned by