Corn, soybean, and wheat futures ended mainly higher on Friday, although market action continued to be restrained by the ongoing US government shutdown and the lack of market data.
Soybeans posted the largest gains on the day, in part supported by demand from domestic crushers. Reports today said that ADM was offering incentives to US farmers to deliver to one of its major processing facilities. Amid weak prices, many American growers have opted to store soybeans and hopefully wait for a rebound later in the marketing year. November was up 8 ¾ cents to $10.19 ½, and January climbed 8 ¼ cents to $10.36 ¾.
Continued worries about US yields falling short of expectations continued to underpin corn, which gained for the fourth day. Slow farmer selling was supportive as well. December was up ¾ of a cent to $4.22 ½, and March gained a penny to $4.36 ½.
Wheat was mostly higher on bargain buying, although heavy global supplies remained bearish. December Chicago ended 1 ¼ cents higher at $5.03 ¾, and December Kansas City added 2 ¾ cents to $4.91 ½. December Hard Red Spring climbed 3 cents to $5.31 ¼, but December Minneapolis slipped 1 cent to $5.48 ½.
