CHICAGO- Chicago wheat futures slid once again, after a volatile week in which prices plunged on investor fears about the economic impact of the Omicron variant of COVID-19, traders said.
Wheat prices had steadied early in the day’s session but then started falling again on news that US employment growth slowed considerably in November.
Soybeans moved higher, drawing support from signs of renewed Chinese demand and questions about weather conditions in South America. Corn ticked up, with strength in crude oil underpinning the crop widely used in ethanol.
“This is the time of year where the market really begins to take a closer look at South America, and the weather talk there is hotter and drier,” said Daniel Smith, senior risk manager at Top Third Ag Marketing in Chicago. — Reuters
