Prices of Chicago agricultural commodity futures kept going down Friday, as profit taking prevailed before the weekend.
The most active corn contract for December delivery lost 4.25 cents, or 0.76 percent, to close at 5.5625 dollars per bushel. July wheat dropped 2.5 cents, or 0.36 percent, to settle at 6.98 dollars per bushel. November soybeans shed 11.5 cents, or 0.89 percent, to close at 12.735 dollars per bushel.
December corn dropped Friday on benign weather forecasts which suggest temperatures will go up, ideal for corn growth.
July wheat traded slightly lower Friday on thought that dry weather now prevailing in the western and eastern parts of the U.S. should accelerate the harvest pace. Also, it is estimated that EU' s production of soft wheat for the 2013-2014 period will reach 130. 7 million tonnes, up 3 million tonnes for the estimate in March, dampening wheat prices.
November soybean closed lower Friday on profit taking ahead of the weekend. Market analysts are expecting an improved soybean planting as the U.S. Midwest remains mostly warm and dry. Outside markets remained weak as the dollar keeps going up.