THE wheat Chicago stock fell for a third straight session on Friday, pulling back further from a two-month high hit earlier this week as technical selling put pressure on the market, traders said.
THE corn also retreated, as the accelerated planting in the USA and the news that the Argentina can expand a volume limit of export weighed.
THE Soy rose with strong export demand for American grain, amid tight supply.
On the Chicago Stock Exchange, the most active wheat contract lost 31.75 cents at $11.6875 a bushel, a weekly drop of 0.7%.
Corn closed down 4.50 cents at $7.7875 a bushel, closing down for the third straight week.
Soybeans gained 14.75 cents to $17.0525 a bushel, posting a weekly gain of 58.75 cents, up 3.6%.
The global wheat supply continues to face climate challenges. In the United States, an annual field expedition to Kansas this week found the lowest yield potential in the nation’s top winter wheat state since 2018.
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Source: Moneytimes
I am an author at Global happenings and I mostly cover automobile news. In my time working in the automotive industry, I have developed a keen interest in the latest developments and trends. My writing skills have also allowed me to share my knowledge with others through articles and blog posts.
