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Corn, soybeans dip, but wheat holds firm on Ukraine worries

Sumary of Corn, soybeans dip, but wheat holds firm on Ukraine worries:

  • * The International Grains Council raised its forecast for 202223 global wheat production, partly reflecting an upward revision for the crop in Russia.
  • * Argentina’s Rosario grains exchange increased its forecast for 20222023 soybean production to 48 million tonnes, up from the 47 million tonnes previously forecast.
  • U.S. corn and soybean futures dipped in Asian trading on Friday, while wheat held tight near the previous session’s 10-week high and was set for a weekly advance on Black Sea supply concerns.
  • * Last week’s rainfall was not enough to reverse drought impacts in Argentina’s main breadbasket, the Buenos Aires Grains Exchange said, adding that a dip in wheat yields was likely for the major grains-producing country.

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