CANBERRA: Chicago corn futures rose on Friday and were on track for their biggest weekly gain in nearly two years after US President Donald Trump paused some of his tariff increases and the US Department of Agriculture (USDA) tightened its supply outlook.
Soybean futures fell slightly but were still set to end the week about 5% higher after delays to US tariffs and European Union’s counter-tariffs eased concerns over US crop exports.
Chicago soy, corn, wheat futures tumble on fears of tariff retaliation
A weak US dollar also lent support.
Wheat futures gained and were headed for a much smaller weekly increase after the USDA raised its estimate of US wheat ending stocks.
Soybeans and wheat are almost back to their levels at the start of the month, before Trump’s barrage of tariff announcements, while corn is significantly higher.
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