CANBERRA/PARIS – Chicago wheat, corn and soybeans futures steadied on Friday after losses this week fueled by US planting forecasts, concerns that tariffs will impact agricultural trade, and improving weather for crops.
Investors were also turning their attention to US inflation data after wrestling with latest tariff announcements by US President Donald Trump.
The most-active wheat contract on the Chicago Board of Trade (CBOT) was up 1.1 percent at $5.68-1/2 a bushel.
CBOT corn rose 0.3 percent to $4.82-1/2 a bushel while soybeans were up 0.5 percent at $10.42-1/2 a bushel.
Wheat reached an eight-month high of $6.21-1/4 and corn an 18-month peak of $5.13-3/4 last week, supported by expectations that supply will tighten.
But improving crop weather in South America and the passing of cold snaps in the United States and Russia have eased fears about near-term threats to production.
Higher prices are also predicted to lure farmers away from soybeans.
The US Department of Agriculture said US farmers would plant more corn and wheat and less soy in 2025.
