Chicago Board of Trade wheat futures fell on Friday on plentiful domestic and global old-crop supplies and a firm dollar, which tends to make US grains less competitive on the world market, traders said. CBOT March wheat settled down 6-1/2 cents at $4.20-1/2 per bushel. For the week, the contract fell 7-3/4 cents or 1.8 percent.
K.C. March hard red winter wheat ended down 6 cents on Friday at $4.34-1/4 a bushel and MGEX March spring wheat fell 6-3/4 cents at $5.60. Prices underpinned by worries about cold weather in Russia, but there was no threat of winterkill in the US Plains or Midwest.
Soyabean futures ended mixed on Friday with nearby months marginally lower on improving South American crop prospects and a lack of significant news, traders said. CBOT March soyabeans settled down 1/4 cent at $10.49-1/4 per bushel. For the week, the contract fell 18-1/4 cents or 1.7 percent.
CBOT March soyaoil fell for a third straight session amid continued uncertainty about the Trump administration's position on biofuels including soya-based biodiesel. CBOT March soyameal closed higher in rangebound trade, gaining against soyaoil on meal/oil spreads. The spot CBOT oilshare, measuring soyaoil's share of value in soya products, dipped to 33.21 percent, its lowest since September.
Soyabean market underpinned by concerns about rain-related harvest delays in Mato Grosso, Brazil's top soya-producing state. Chicago Board of Trade corn futures declined on Friday on technical selling and worries about rising political tensions between the United States and Mexico, a top buyer of US corn, traders said. CBOT March corn settled down 1-1/4 cents at $3.62-1/2 per bushel. For the week, the contract fell 7-1/4 cents per bushel, or nearly 2 percent. US President Donald Trump said he had a friendly phone call with Mexico's president, but asserted he will renegotiate trade deals and other aspects of the countries' ties.
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