CHICAGO: Chicago Board of Trade corn futures ended near unchanged on Friday amid positioning in choppy trading ahead of the weekend, traders said.
Concerns about the risk of a global recession and weakness in outside markets hung over the grains, traders said.
This week, traders and analysts digested monthly supply/demand estimates from the US government, the release of four weeks’ worth of US weekly export sales data, and talks to avert a potential railroad shutdown.
CBOT SOYABEAN LOWER
Chicago Board of Trade soyabean futures finished weaker on Friday on concerns over competition for soybean export sales from South America, traders said. Argentine farmers increased sales of the country’s 44 million-tonne 2021/22 soybean crop this week, after the government implemented a more favourable exchange rate for exports of the cash crop.
Weakness in outside markets and warnings of a global recession added pressure to CBOT soy futures, traders said.