CHICAGO- Chicago Board of Trade soybean and corn futures fell on Friday, as hefty supply from a rapid US harvest weighed heavily over contracts, market analysts said.
But corn and soybean futures ended the week higher, as a recent boom in US export sales bolstered prices, traders said.
In wheat, recent rains and forecasts of more wet weather in the drought-hit US Plains allayed some concerns about the crop, while traders continued to monitor the potential impact of Russian efforts to regulate exports, potentially leaving US suppliers holding large wheat supplies.
CBOT’s most-active soybean futures contract ended the day down 8-1/2 cents at $9.87-3/4, while corn settled down 6-1/4 cents at $4.15-1/4 a bushel. CBOT wheat ended down 12-1/2 cents at $5.69 per bushel – and also ended the week lower.
On Friday, corn and soy fell after reaching their highest points in about two weeks on Thursday when the US Department of Agriculture reported the biggest weekly volume of US corn export sales in three years while also announcing more daily corn and soybean export sales.
