Grain Futures Finish Mixed; Wheat Rallies on Global Concerns

Grain markets wrapped up Wednesday with mixed results. Corn futures closed down around five cents as traders kept an eye on favorable crop conditions and beneficial weather in the Corn Belt.

Soybeans also finished lower, losing two to three cents due to expectations of a large U.S. crop weighing on the market.

However, wheat was the bright spot, with Chicago wheat gaining between three and seven cents and Kansas City hard red winter wheat adding six to seven cents.

The wheat market found support from technical buying and ongoing concerns about global production and export competition.

Livestock markets also finished mixed, with cattle extending their rally and lean hogs closing lower.