July soybean oil rose 1.50¢ to settle at 82.94¢ a lb. July soybean meal lost $1.80 to close at $415.60 per ton. July soybeans advanced 11¾¢, closing at $17.40 a bu. Minneapolis July wheat gained 7¼¢ and closed at $12.34½ a bu. Kansas City July wheat rose 5¾¢ to close at $11.55 a bu. Chicago July wheat ticked up 3¢ to close at $10.74¾ a bu. July corn added 7½¢ to close at $7.64½ a bu, but later months were mixed. Wheat futures firmed as traders continued to watch developments concerning potential Black Sea exports. A persistently strong spot market pushed nearby corn futures higher for a third-straight session. Soybean futures nearly reached 10-year highs on Wednesday, supported by strong demand from both domestic and international users and tight supplies that would not replenish till harvest time later this year.The June contract lost $3.10 to settle at $1,848.80 an oz. The US dollar index strengthened again on Thursday.The July future dropped $0.60 to close at $121.51 per barrel. The Nasdaq Composite plummeted 332.05 points, or 2.75%, to close at 11,754.23. The Dow Jones Industrial Average fell 638.11 points, or 1.94%, to close at 32,272.79. The data likely will be used to set the next interest rate increase by the Federal Reserve during their meeting next week. Also adding pressure was anticipation about Friday’s Consumer Price Index report, which measures the month-over-month price changes that consumers pay and shows if inflation is rising or falling. US equity markets reversed course early in the session and ended sharply lower Thursday after a report showed fillings for unemployment reached their highest levels since January.July soybean oil ticked down 0.31¢ to settle at 82.63¢ a lb. July soybean meal added $11.90 to close at $427.50 per ton. July soybeans jumped 29¢, closing at $17.69 a bu. Minneapolis July wheat fell 10½¢ and closed at $12.24 a bu.
Kansas City July wheat slipped 1¼¢ to close at $11.53¾ a bu. Chicago July wheat dropped 3½¢ to close at $10.71¼ a bu. July corn gained 8½¢ to close at $7.73 a bu, but later months were mixed. Wheat futures eased as traders positioned themselves ahead of Friday’s US Department of Agriculture’s supply and demand and crop production reports. Forecast of sustaining hot, dry weather in the Corn Belt adding stress to new crop growth supported corn futures. Soybean futures rallied again on Thursday, reaching 10-year highs as evidence for strong export demand persisted.
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