Chicago soybean and corn futures rose on Thursday on short-covering and an uptick in export demand, though expectations for strong U.S. crop production limited gains, traders said.
Chicago soybean and corn futures stumbled on Wednesday as traders assessed whether beneficial rain and forecasts for milder weather will aid the country's corn and soy crops during their final growing stages, analysts said.
Chicago Mercantile Exchange (CME) cattle futures ended higher on U.S. heat concerns and signs of better consumer demand on Tuesday, while lean hog futures set a 12-week high, analysts said.
Chicago Board of Trade corn, soybean and wheat futures strengthened on Tuesday, as a spell of hot weather hit the U.S. Midwest and the market took in weekly crop ratings from the U.S. Department of Agriculture, which all fell from last week.
Chicago Board of Trade (CBOT) most-active corn futures Cv1 fell to the lowest levels since 2020 on Monday as expectations of a bumper corn crop and a continued stream of farmer selling weighed on futures, analysts said.
Soybeans rose while corn eased on Friday as traders covered short positions ahead of the weekend while monitoring an incoming heatwave that could threaten some crops in the U.S. Midwest, traders said.
Chicago Board of Trade wheat futures hit contract lows on Thursday as low prices for Black Sea wheat and a stronger dollar undercut the competitiveness of U.S. grains, analysts said.
Chicago Board of Trade wheat futures Wv1 fell on Wednesday as heavy world supplies and cheap Black Sea exports weighed on prices, ahead of a potential Canadian rail stoppage on Thursday.