WHEAT – Down 5 to 6 cents per bushel.
Firm dollar and profit-taking after Wednesday’s rally weighs on prices. Traders said the wheat market appeared to be topping out at around five-month highs in CBOT and two-year
highs in KCBT and MGEX.
* Mostly favorable conditions for wheat harvest in southern Australia while showers in the north may impact remaining
harvest and also increase chances of flooding.
CORN – Down 1 to 2 cents per bushel.
Pressure from firm dollar, slow export sales of U.S. corn and profit-taking after the rally on Wednesday.
* Rainfall in Argentina this week has helped ease stress on crops, especially over La Pampa and southern Buenos Aires. However, more rain is needed and the long range outlook is drier. Overall satisfactory crop weather continues in Brazil.
SOYBEANS – Down 1 to 2 cents per bushel.
Pressure from showers this week in Argentina that eased stress on the developing soy crop, a firm dollar and slow export sales of U.S. soy.
* Showers this week in Argentina have eased stress on crops, especially over La Pampa and southern Buenos Aires. However, more rain is needed and the long range outlook is drier. Overall satisfactory crop weather continues in Brazil.