U.S. soybean and corn futures closed lower on Thursday after touching six-week lows, with both markets facing pressure from hefty South American supplies, traders said.
U.S. soybean futures rose on Wednesday, bouncing on a round of bargain buying after the most-active July contract SN24 hit a six-week low, buoyed in part by firming Brazilian soy markets, analysts said.
Chicago Mercantile Exchange live cattle futures closed higher for a second consecutive session on Tuesday as the market extended a recovery from oversold conditions, analysts said.
CBOT soy, corn and wheat futures closed lower on Monday, anchored by ample grain supplies, slow export demand and a decline in crude oil futures after concerns eased about Iran's weekend drone attack on Israel, analysts said.
Chicago Board of Trade grain and soybean futures rallied on Friday on money flow from managed funds, rising demand and weather concerns, analysts said.
Chicago Mercantile Exchange (CME) cattle futures firmed on Thursday, bolstered by technical trading and anticipated consumer demand going into the grilling season, analysts said.
Chicago corn futures dipped on Thursday after the U.S. Department of Agriculture projected domestic ending stocks will remain at a five-year high, despite a reduction from last month.
Chicago Board of Trade soy fell on Wednesday after hitting a one-month low as traders awaited a U.S. Department of Agriculture supply and demand report and Brazil's Conab crop forecast.