The most active corn contract for March delivery fell one cent, or 0.15 percent, to settle at 6.5275 U.S. dollars per bushel. March wheat rose 1.25 cents, or 0.17 percent, to settle at 7.4675 dollars per bushel. March soybean lost 12.75 cents, or 0.86 percent, to settle at 14.7075 dollars per bushel.
Macro financial market considerations have played a large role in CBOT valuations in the opening days of 2023. However, the market's attention will shift back to next week's January U.S. Department of Agriculture (USDA) January crop report and South American crop sizes and weather.
Chicago-based research company AgResource would caution against making new sales in either corn, wheat and soyoil, seeing wheat and soyoil as nearing bottoms while corn, soybean and soymeal chop sideways ahead of the USDA's crop report next week.
U.S. weekly ethanol production fell to 844,000 barrels per day, as against 963,000 barrels in the previous week. This was down 19 percent from last year. U.S. ethanol stocks rose to 1,026 million barrels, up 14 percent from last year.
Tunisia booked 100,000 metric tons of wheat with FOB price estimated at 320 dollars per metric ton.
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