Chicago agricultural commodities fell across the board Friday, with corn posting a loss of 1.85 percent.
The most active corn contract for December delivery fell 8.75 cents, or 1.85 percent, to 4.635 dollars per bushel. December wheat lost 6 cents, or 0.92 percent, to close at 6.435 dollars per bushel. November soybeans dipped 6.25 cents, or 0.49 percent, to 12.5925 dollars per bushel.
December corn dropped sharply Friday on record short position. A crop inspection tour will kick off next week and the market will follow the field reports closely.
December wheat traded lower Friday on light volume ahead of the weekend, keeping in pace with corn market. Northern Hemisphere wheat harvest is coming to an end: France had 90 percent of its harvest completed by Aug. 12, up from 71 percent last week; Russia had harvested 34.7 million tonnes by Aug. 15, higher than the 27.9 million tonnes last year.
November soybean fell Friday on profit taking ahead of the weekend. Weather tends to be warmer into the weekend, which will help the maturity of soybean. Export demand remains strong for the new crop year, and the U.S. Department of Agriculture announced that U.S. private exporters sold a total of 410,000 tonnes to China and other destinations Friday, curbing the fall of soybean somehow