Corn and soybean futures ended lower on Friday, as lingering bearish supply data and position-squaring ahead of the weekend weighed. Wheat was mainly higher.
Corn remained under pressure from USDA’s Sept. 30 Grain Stocks report, which showed Sept. 1 inventories at 2.1 billion bu, up 35% from a year earlier. That larger-than-expected supply picture continued to overshadow supportive factors, including a fresh U.S. corn sale to Mexico of 218,600 tonnes. December slipped 4 ½ cents to $4.97 ¾, and March was down 5 ¼ cents at $5.11 ½.
Soybeans also weakened as the U.S. harvest continued to advance. A drier Midwest forecast was expected to accelerate fieldwork, while concerns over Chinese demand remained a major headwind as well. November beans lost 5 ¾ cents to $12.78 ¼, and March dropped 6 cents to $13.04 ¾.
Wheat turned mainly higher, with the marketing continuing to receive underlying support from tightening global logistics and export concerns, particularly in the Black Sea. However, strength in the U.S. dollar and generally cautious trade ahead of the weekend limited follow-through buying. December Chicago gained a ¼ cent to $6.83, while December Kansas City lost 2 ¼ cents to $7.35 ¼. December Hard Red Spring added 3 ½ cents to $7.23 ¾, and December Minneapolis inched 1 ¼ cents higher to $6.98.
