Corn and soybean futures closed modestly higher on Friday, supported by export demand, crop concerns, and a weaker U.S. dollar, while wheat futures slipped on profit taking ahead of the weekend.
Corn continued to draw support from recent flooding in the eastern Corn Belt and generally supportive findings from the Pro Farmer Crop Tour, which has now wrapped up. The USDA today also announced a daily sale of 205,000 tonnes of U.S. corn to unknown destinations for 2026-27. December closed a nickel higher at a 2 ½ year high at $5.08 ½. March was up 5 ¼ cents at $5.23 ½.
Soybeans recovered from early losses, with the USDA reporting sales of 712,000 tonnes of soybeans to China and another 720,000 tonnes to unknown destinations for delivery in 2026-27. A weaker U.S. dollar, which touched a 2 1/2-month low during the week, provided additional support to U.S. agricultural commodities by improving their competitiveness in export markets.
Wheat moved in the opposite direction as traders booked profits following recent gains. However, losses were limited by continued disruptions to Black Sea wheat shipments and strength in corn. December Chicago eased ¾ of a cent to $6.99 ¼, and December Kansas City lost 4 cents to $7.72 ½. December Hard Red Spring dropped 2 ½ cents to $7.17 ¾, and December Minneapolis lost 3 ¼ cents to $7.24 ½.
