CHICAGO- US soybean futures fell Friday as news of a new COVID variant discovered in South Africa sent oil and equities markets lower, with moves exaggerated by low trade volume across the grain and oilseed commodities.
Chicago Board of Trade January soybeans lost 13-3/4 cents, at $12.52-3/4 a bushel, the contracts biggest drop since Nov. 4. For the week, CBOT’s most-active soybean contract lost 0.81 percent.
CBOT’s most active March wheat fell 10 cents to $8.40-1/4 a bushel, while CBOT March corn ended 6-1/4 cents higher at $5.91-3/4 a bushel.
For the week, wheat added 0.72 percent and corn gained 3.63 percent.
News of the COVID variant sent authorities in the European Union, Britain and India announcing stricter border controls as scientists seek to determine if the mutation is vaccine-resistant.
