Soybean futures closed lower after a trading session. But wheat rose amid technical purchases and concerns over shipments from war-torn Ukraine.
Corn futures fell for a second straight session on Wednesday on month-end profit taking and growing concerns about the global recession, but the market nevertheless gained 8% in August on a decline in crop prospects. of the USA and Europe.
Soybean futures closed lower after a trading session. But wheat rose amid technical purchases and concerns about shipments from war-torn Ukraine.
Grain silos in Ukraine’s second-largest port, Mykolaiv, were hit by Russian bombing in the city on Tuesday, causing a fire that was still burning on Wednesday, the Ukrainian emergency service said.
December corn on the Chicago Stock Exchange lost 6.75 cents at $6.7050 a bushel. November soybeans ended up 10 cents at $14.2250 a bushel, while December wheat on the CBOT ended up 11.25 cents at $8.3150 a bushel.
Corn came under pressure as traders booked profits after the December contract hit a two-month high on Monday. A broad slump in commodity and financial markets also weighed on prices.
“The macro environment remains negative for agriculture this week,” said Charles Branch, head of agricultural commodities at Britannia Global Markets.