Global grain prices on May 9: Corn, soybeans fell, wheat increased

On the Chicago Mercantile Exchange, the wheat contract rose 2 cents to $11.08-1/2 per bushel and was up 4.99% weekly. Soybean and corn prices ended the week lower and extended their weekly losses. Chicago's most active soybean contract fell 25 cents to $16.22 a bushel, while corn fell 12-3/4 cents to $7.84-3/4 a bushel. In South America, recent rainfall could spur a corn crop in the south-central part of Brazil, which is forecast to be larger than expected. Meanwhile, wheat futures in Chicago rose due to tight world supply. In India, one of the world's largest wheat producers, wheat prices were bolstered by concerns that hot and dry weather could reduce the country's export potential, while similar conditions self-imposed impact on US winter wheat and concerns about rising European crop prices. Statistics Canada said Canada's stocks of most crops fell at the end of March 2022 compared with the same period in 2021. In France, Europe's largest grain producer and exporter said ...