© Archyde.com/Bryan Woolston
Archive image of corn on the ground at Hodgen Farm in Roachdale
Por Christopher Walljasper
Jan 7 (Archyde.com) – Chicago soybean futures rose following a mixed trade early Friday, as traders weighed spotty export activity once morest uncertain weather issues in South America.
* Corn declined as crops in Argentina and Brazil have more time to benefit from the rains expected later this month.
* Wheat found a new two-and-a-half-month low, pressured by large harvests in the southern hemisphere and the forecast for rainfall for parts affected by water shortages in the United States.
* Grain markets are also expecting a series of crop reports from the US Department of Agriculture scheduled for January 12, which include updated estimates for South American production.
* The most active soybean contract in the Chicago Market (CBOT) rose 20 cents to $ 14.0725 a bushel at 1722 GMT. The March contract was heading for a weekly gain of almost 5%.
* Chicago corn rose 1 cent to $ 6.0475 a bushel, set for a nearly 2% gain for the week.
* Wheat advanced 5.5 cents to $ 7.515 a bushel.
* Soybeans were led by gains in CBOT soybean meal futures, influenced by COVID-related labor concerns in Argentina.
* New US export data also boosted corn and soybeans, with 176,784 tons of corn sold to Mexico and 120,000 tons of soybeans to unspecified destinations, the USDA said.
(By Christopher Walljasper; Additional reporting by Gus Trompiz in Paris and Naveen Thukral in Singapore; Edited in Spanish by Juana Casas)