In America, a mixed picture could be seen during the shortened trading due to Thanksgiving, while in Europe the mood on the crop markets was clearly optimistic. In Chicago, wheat became cheaper by 2.8 percent and canola by 1.3 percent, while corn rose by 0.6 percent and soybeans by 0.3 percent. In Europe, the courses of all four priority agricultural products, mill wheat, corn, rapeseed and fodder wheat, also closed in the red.
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According to analysts, Chicago corn futures closed higher on Friday as the market continues to closely monitor South American weather during a relatively choppy but short trading day. Meanwhile, wheat futures fell sharply - the December contract fell to its lowest level since Aug. 22 - as the market continued to feel the latest weakness in Russian wheat prices, traders said. Soybeans ended the day almost stagnant after Argentina announced that it will restore the exchange rate for soybean exports by the end of the year in an attempt to boost its exports and bring much-needed dollars into the country. According to traders, issues related to export demand for American grain and oilseeds also weighed on the market. The grain and oilseed markets in Chicago closed at noon on Friday. The Chicago Grain Market was also closed Thursday for the Thanksgiving holiday. Corn futures rallied as the market continued to monitor not only forecasts of dry weather that could put more stress on crops ...
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