Wheat rises on European supply issues, corn and soy on greater demand in United States

Chicago wheat rose on Friday, and registeredits biggest weekly gain in more than three months on concerns over lower production in Europe. Soybeans rose to a three-week high and corn inched up with rising demand for the crops, according to analysts. The most-active wheat contract on the Chicago Board of Trade Wv1 settled up 2-3/4 cents to $5.51-1/2 per bushel, and corn Cv1 ended up 5 cents to $4.01 per bushel. Soybeans Sv1 added 7-1/2 cents to finish at $10 per bushel, climbing to the highest level since Aug. 9. The wheat market, which gained more than 4% this week, had itsbiggest weekly gain since mid-May. Soybeans rose nearly 3% this week, their biggest weekly rise in four months, and corn saw its first weekly rise in five weeks. The European Commission on Thursday cut its estimate for usable production of common wheat in the European Union in 2024/25 to 116.1 million metric tons from 120.8 million forecast a month earlier, a four-year low. Market players have raised concerns ...