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Commodities

Grains Slide Ahead of Crucial Weekly Report

Guavy AI Editorial Team
Instruments
Wheat Corn
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Grains experienced weakness on Friday morning as traders adjusted their positions ahead of the weekly WASDE report.

According to Karl Setzer, partner with Consus Ag Consulting, moderate pressure was seen in overnight trade due to the back and forth money flow in the market.

The U.S. drought conditions improved last week for row crops, but pasture moisture declined, causing some uncertainty in the market.

Corn prices were down 5.5 cents at $5.28.25 per bushel, while soybeans fell by 14.5 cents to $13.17.75 per bushel.

Wheat prices also saw a decline, with December CBOT wheat down 4.25 cents at $7.37 per bushel and December Kansas City wheat weaker by 7.25 cents at $8.11.50 per bushel.

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