Chicago Board of Trade wheat futures reached a 12-week high on Friday as escalating tensions in Russia's war with Ukraine increased uncertainty about Black Sea exports.
Chicago Board of Trade corn futures ended higher on Thursday, rebounding from a drop to near two-week lows after the U.S. Department of Agriculture (USDA) raised its estimate of the U.S. corn crop, traders said.
Coming within market expectations was essentially the central theme in the September supply and demand report (WASDE) from the United States Department of Agriculture released on Sept. 12.
There is a 71 per cent chance of La Niña weather conditions developing during the September to November period, a U.S. government forecaster said on Thursday.
U.S. wheat futures hit a one-week high on Wednesday, supported by signs that supply pressure from the Black Sea export region may be easing, analysts said.
The Chicago Board of Trade (CBOT) will be focusing on the monthly World Agricultural Supply/Demand Estimates (WASDE) from the United States Department of Agriculture (USDA) on Sept. 12.
Chicago soybean futures fell to a one-week low on Tuesday, with the benchmark contract Sv1 retreating back under $10 a bushel as better-than-expected U.S. crop ratings bolstered production prospects and eased worries about recent dry weather.