Chicago agricultural commodities edged down across the board on Friday.
The most active corn contract for July delivery fell 3.75 cents, or 0.80 percent, to close at 4.6575 U.S. dollars per bushel. The most active soybean contract for July delivery fell 5.75 cents, or 0.38 percent, to close at 14.9325 dollars per bushel. The most active wheat contract for July delivery fell 5.25 cents, or 0.83 percent, to close at 6.2725 dollars per bushel.
World importers are not showing any interest in booking U.S. corn beyond the next two to three months, U.S. export sources say. The United States Department of Agriculture's Foreign Agricultural Service (FAS) reported that 24.5 million bushels of old crop corn and 3.6 million bushels of new crop were sold for the week ending May 22.
Soybeans fell as central U.S. weather forecast remains nearly ideal for the closing days of May and first half of June with near to above normal rainfall and with near to above normal temperatures. Analysts estimate that 79 percent to 84 percent of the U.S. soy crop has been planted.
Wheat fell to the lowest in nearly three months, capping the futures' biggest monthly decline in almost three years as improving weather for the crops kept the market focused on comfortable global supply, as well as a weak demand for the U.S. crop, market analysts say.