Chicago crop futures closed mainly higher to end the week, following four straight days of losses.
Much of the strength in the market was attributed to optimism surrounding a US-China trade after the White House announced an accord with China on rare earth shipments. US President Donald Trump’s comments this week that a trade deal with India was close also helped to support. Positioning ahead of Monday’s USDA acreage and quarterly stocks reports underpinned the grains, as did further weakness in the American dollar.
On the other hand, advances remained limited by good Midwest weather and crop development conditions.
September corn gained 7 ½ cents to $4.11 ½, and December added 6 cents to $4.27. August beans were up 5 ½ cents at $10.33 ¼, and November climbed 8 ¼ cents to $10.24 ¾.
Wheat was steady to higher, with the market weighed down by rising global production estimates. The International Grains Council on Thursday raised its estimate of 2025-26 world wheat output to 808 million tonnes, up 2 million from last month. September Chicago wheat was up 4 cents at $5.40 ¾, September Kansas City was steady at $5.33 ¾, and September Minneapolis added 2 ½ cents to $6.28.
