Chicago Grain Markets Mixed Amid Biofuel Wishes, Export Concerns
CHICAGO, Feb 26 — united state grain futures experienced an unstable Thursday, driven by biofuel plan updates and fluctuating export need.
- Soybean futures initially surged to a 20 -month high on expected raised biofuel mixing mandates, before retreating on profit-taking. May soybeans worked out at $ 11 56 – 1/ 4 a bushel. Soyoil futures hit a mid-September high.
- Corn futures decreased because of profit-taking and disappointing export sales information, with May corn at $ 4 40 – 3/ 4 a bushel. Weekly exports hit a seven-week low.
- Wheat futures rebounded after 3 sessions of losses. May wheat closed at $ 5 73 – 1/ 2 a bushel.
Experts point out unpredictability bordering Chinese soybean demand and tariff concerns as prospective market headwinds.
