Chicago Grain Markets Mixed Amid Biofuel Hopes, Export Worries
CHICAGO, Feb 26 — U.S. grain futures experienced a volatile Thursday, driven by biofuel plan updates and fluctuating export need.
- Soybean futures initially rose to a 20 -month high up on awaited boosted biofuel blending mandates, prior to pulling away on profit-taking. May soybeans settled at $ 11 56 – 1/ 4 a bushel. Soyoil futures hit a mid-September high.
- Corn futures decreased as a result of profit-taking and frustrating export sales information, with May corn at $ 4 40 – 3/ 4 a bushel. Weekly exports struck a seven-week low.
- Wheat futures recoiled after three sessions of losses. May wheat shut at $ 5 73 – 1/ 2 a bushel.
Experts point out unpredictability bordering Chinese soybean demand and tariff concerns as prospective market headwinds.