Chicago Grain Markets Mixed Amidst Biofuel Hopes, Export Worries
CHICAGO, Feb 26 — U.S. grain futures experienced a volatile Thursday, driven by biofuel plan updates and fluctuating export demand.
- Soybean futures originally rose to a 20 -month high on expected enhanced biofuel blending mandates, prior to pulling back on profit-taking. May soybeans worked out at $ 11 56 – 1/ 4 a bushel. Soyoil futures struck a mid-September high.
- Corn futures declined because of profit-taking and unsatisfactory export sales information, with May corn at $ 4 40 – 3/ 4 a bushel. Weekly exports struck a seven-week reduced.
- Wheat futures rebounded after three sessions of losses. May wheat closed at $ 5 73 – 1/ 2 a bushel.
Analysts point out uncertainty surrounding Chinese soybean demand and toll worries as possible market headwinds.
