Commodities
Grain Prices Fall Ahead of Labor Day
Grain and oilseed prices took a hit on Friday ahead of the Labor Day holiday in the US. The Chicago Board of Trade (CBOT) saw decreases across the board, with wheat experiencing the largest decline.
December SRW wheat futures fell by 2.68% to $269.69 per ton, while September and December corn contracts also dropped. Soybean futures posted a more moderate decline of 0.49%, with the November contract settling at $481.24 per ton.
New-crop export commitments for US corn reached 14.44 million tons, up 30.9% from last year's pace. Meanwhile, soybean export sales totaled 939.6 thousand tons in the latest reporting week, including sales to China and unknown destinations.