Corn and soybean futures finished little changed on Friday amid a lack of fresh news, while wheat posted modest losses.
Corn drew some support from the weather, as heavy rains continue to show up in the forecast for the next week, including up to 4 inches from Texas to the Great Lakes, and Nebraska to Indiana. The lack of major fresh export business limited buying interest, particularly after Thursday’s weaker-than-expected export sales data. December corn inched ¾ of a cent higher to $5.28 ¼, and March added a ½ cent to $5.42.
The weather was also a supportive factor for soybeans, while uncertainty surrounding Chinese demand was a negative influence. Few concrete details have emerged from this week’s Trump-Xi summit. China has been buying U.S. soybeans, but traders continue to look for evidence that purchases will be large enough to absorb the incoming crop. November beans ended 1 ½ cents higher at $13.19, but March lost a ¼ cent to $13.39 ½.
Wheat suffered further declines, weighed down by technical selling and competition in the global export market. December Chicago ended 3 ¾ cents lower at $7.03 ¼, and December Kansas City fell a nickel to $7.62. December Hard Red Spring ended 7 ¼ cents lower at $7.44 ½, and December Minneapolis dropped 6 ¾ cents to $7.13 ½.
