Corn and soybean futures ended mostly lower on Friday, with ongoing harvest pressure, speculative selling and month-end positioning weighing on the markets.
Wheat also slipped slightly after recovering some ground in the previous session.
Continued harvesting across the U.S. Midwest pressured corn, as favourable conditions allowed producers to make further progress. Concerns about ample supplies and continued liquidation of speculative positions also limited buying interest. December fell 3 ½ cents to $4.47 ¾, and March was down 3 ¾ cents at $4.61.
Soybeans remained under pressure from weakness in soybean meal and fund selling. A weaker Brazilian currency has also improved the competitiveness of Brazilian exports. January and new-crop November each dipped a ½ cent to end at $12.34 ¼, and $12.09.
Wheat turned lower after rallying Thursday following unexpectedly strong weekly U.S. export sales of nearly 850,000 tonnes and reports that Chinese buyers were considering purchases of American soft red winter wheat. However, uncertainty surrounding potential Chinese buying and continued competition from other exporters kept the market from further gains. December Chicago lost a ¼ cent to $6.03 ½, December Kansas City was down a penny at $6.44 ¼, and December Minneapolis was ¾ of a cent lower at $6.23 ¾.
