Losses in crude oil weighed on crop futures Friday, as easing geopolitical tensions and improving crop prospects combined to pressured into the weekend.
Wheat led the declines as traders removed weather and geopolitical risk premium from the market. Benchmark Chicago wheat fell for the sixth time in seven sessions amid improving weather conditions across key production regions. Losses in crude oil, due to growing expectations the U.S. and Iran could move closer to a peace agreement, added to the downside. July Chicago dropped 13 ½ cents to $6.10 ½, and July Kansas City dropped 15 ½ cents to $6.49 ¾. July Hard Red Spring tumbled 36 ½ cents to $6.72 ¼, and July Minneapolis lost 13 ½ cents to $6.63 ¾.
Corn futures also moved lower as traders reduced risk exposure ahead of the weekend. Export demand offered limited support, with USDA reporting 1.015 million tonnes of old-crop export sales for 2025-26, near the lower end of expectations and down sharply from the previous week. However, new-crop sales reached a marketing year high. July corn fell 9 cents to $4.46 ¾, and December was down 7 ¼ cents at $4.75.
Soybeans were comparatively more resilient, supported by a private sale announcement of 192,000 tonnes to unknown destinations and export sales that landed within trade expectations. Still, soybeans ended lower as broader commodity weakness and fund liquidation overshadowed supportive demand signals. July was 7 ¾ cents lower at $11.86 ¾, and November dropped 4 cents to $11.90.
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