Wheat futures ended mostly higher on Friday, while both corn and soybeans sagged under harvest pressure.
International weather woes offered support to wheat, with reports that some Argentina farmers are abandoning their fields due to a lack of rainfall. Overly dry conditions are also expected to curb winter wheat plantings in Ukraine. On the other hand, the dry US southern Plains are expected to see meaningful rainfall this weekend, which should help improve soil moisture for winter wheat planting. December Chicago wheat gained 3 cents to $5.68 ½, December Kansas City was down a ½ cent at $5.64, and December Minneapolis was up a ¼ cent to $6.08.
Corn was a bit lower as Midwest weather remains mostly warm and dry, helping to speed along crop maturity and harvest progress. December corn lost 4 cents to $4.01 ¾, and March was down 4 ¼ cents to $4.20.
The ongoing harvest also pressured soybeans. Heavy rains did fall over far southern Brazil overnight, but the Brazilian forecasts are still mostly dry for the central areas over the next week. November beans slipped 1 ¼ cents to $10.12, and January was down 1 ¾ cents at $10.29 ½.
