Chicago corn and soybeans fall Friday as wheat trades mixed
US wheat futures ended mixed on Friday, October 2, while corn and soybeans moved lower. December Chicago SRW wheat edged up 0.04% to $250.96/t, corn fell 0.90% to $195.96/t, while November soybeans declined 0.41% to $469.85/t.
Wheat prices varied by class. December HRW wheat futures in Kansas City fell to $270.15/t, while Minneapolis spring wheat rose to $256.47/t. The market was also pressured by weaker US export demand, with wheat export sales since the start of the season totaling 9.737 mln tons, down 31% y/y.
Corn futures came under pressure from expectations that US harvest activity would pick up again amid more favorable weather. The December contract fell 4.5 cents to $4.97¾/bu. Meanwhile, USDA reported a private sale of 218.6 thsd tons of US corn to Mexico.
Soybeans also closed lower, with November futures down 5¾ cents at $12.78¼/bu. At the same time, US soybean export commitments totaled 22.236 mln tons, up 89% from the same period last year.
European markets were firmer. December MATIF wheat futures rose to €241.50/t, while November corn climbed to €269/t. US grain markets ended the week under pressure from harvest progress and weaker grain export indicators, while European prices posted moderate gains.
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