Chicago Grain Traders Await USDA's WASDE, Crop Production Reports
Chicago grain futures closed mixed on Thursday. May corn rounded out yesterday's session 1 ½ cents higher at $7.57 ¾ a bushel while May soybeans were up 26 cents to $16.45 ½ cents a bushel.
Front-month Chicago wheat slipped by 18 ¼ cents to $10.20 a bushel, pressured in part by moisture in areas of the southern wheat-producing states.
According to the USDA weather desk, recent rain from northeastern Texas eastward has eased short-term drought, although drought remains entrenched over the southern and western portions of the region.
The USDA indicates that about 46% of the nation's spring wheat production is currently located within an area experiencing drought.
Grain prices remain largely supported by Russia's ongoing invasion of Ukraine, which has spurred concerns about global supplies amid stalled Ukrainian exports of key agricultural commodities including wheat, corn, and sunflower oil...
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