CHICAGO- Chicago Board of Trade soybeans and corn futures turned lower on Friday, with both also notching a third weekly loss, as farmers kept clearing out their grain bins ahead of a US harvest that is forecast to see massive yields, traders said.
Wheat futures firmed as problems with the French and German wheat crop, plagued by excess harvest-time rain, supported prices.
Most-active CBOT wheat settled up 1-3/4 cents to $5.30 a bushel, while corn ended down 4-1/2 cents at $3.92-1/2 a bushel.
Meanwhile, most-active soybean futures fell down 11-1/2 cents to finish at $9.57 a bushel – having dipped at one point to $9.55 a bushel, the lowest since Sept. 2, 2020.
US wheat futures have continued to face pressure from a strong Black Sea wheat crop.
However, the French soft wheat crop, which is expected to be the smallest since the 1980s, and a declining German crop have provided a floor under prices.
All three crops were trading close to their lowest since 2020 against a backdrop of large US supplies and stiff competition from Brazil and Russia to capture limited demand.
