Grain futures mixed as export sales offset geopolitical concerns
Grain futures traded mixed ahead of the holiday weekend, with strong weekly export sales supporting corn and soy while wheat slipped amid Russia-Ukraine diplomatic developments. Corn held marginal gains; soy rose $0.25 for the week; wheat fell $0.45.
Grain markets traded mixed ahead of the holiday weekend as market participants weighed strong export demand against geopolitical developments.
Corn futures held onto marginal gains following strong weekly export sales of 1.986 million metric tons, despite a choppy trading range.
Soybean futures came into the session up $0.25 for the week after posting a fourth consecutive weekly gain, supported by 1.948 million metric tons in weekly export sales and an additional flash sale of 250,600 metric tons to unknown destinations.
Meanwhile, Wheat futures faced pressure, declining $0.45 on the week as traders monitored potential diplomatic de-escalation between Russia and Ukraine.