The most active corn contract for May delivery fell 22.25 cents, or 2.97 percent, to settle at 7.2625 U.S. dollars per bushel. May wheat plunged 42.75 cents, or 4.04 percent, to settle at 10.1425 dollars per bushel. May soybean lost 21.25 cents, or 1.28 percent, to settle at 16.43 dollars per bushel.
CBOT agricultural futures were sharply lower on constructive peace talks between Russia and Ukraine. World financial markets are extremely sensitive to headlines and the news on Tuesday was that both sides saw each other's demands for a peace accord as constructive.
Following Thursday's U.S. Department of Agriculture (USDA) report, the CBOT is likely to see risk on trade return.
U.S. exporters said that China has been active booking U.S. soybeans in the past few days. China is rumored to have bought more than 9-12 cargoes of U.S. and Brazilian soybeans in the past 36 hours.
Limited rains are forecast for the Western Plains with two systems producing rains for the Eastern Plains and the Midwest. A broad Ridge/Trough pattern forms during the 11-15 day period with dryness being maintained across the Plains.
Latest comments