Soybean futures posted small losses on Friday, while corn and wheat closed mixed.
Soybeans were weighed down by China’s continued insistence that it is not in trade talks with the US, despite American President Donald Trump’s claim otherwise. Liquidation in the May contract also undermined beans. May dropped 3 ¼ cents to $10.49 ¾, and November eased a ½ cent to $10.35.
New-crop corn was pressured by ideas of good US planting progress this week, ahead of rain that is forecast to arrive this weekend and for much of next week. However, the outlook does turn drier beyond that. The nearby May corn contract managed a small advance. May inched up 1 ½ cents to $4.78 ¾, and December slipped ¾ of a cent to $4.55 ¾.
Winter wheat contracts were a bit higher while spring wheat slipped slightly. Chart short covering offered support. May Chicago wheat was up ¾ of a cent at $5.30, May Kansas City was a ¼ cent higher at $5.38, and May Minneapolis lost 1 ¼ cents to $5.91 ¼.
