U.S. corn futures lost ground for the sixth consecutive week and soybean futures declined the fifth week in a row after expectations for plentiful supplies pushed the markets to multi-year lows on Thursday.
Short-covering, positioning and U.S. export demand advance corn and wheat Friday
Beneficial rains have eased concerns about crop damage in Brazil from drought
GMO corn, soybeans, cotton recently approved for domestic production in China
Several products are due on the market for 2024
Wheat ended nearly unchanged after touching seven-week low on Tuesday
Shipping costs due to re-routing away from embattled Red Sea also affecting markets
Conflicting South American soy crop forecasts roil trade; market processing USDA crop production report
Soybeans hit largest net short position since March 2020
Soybeans fell to lowest price in 26 months on larger Brazilian crops, U.S. yield