Chicago agricultural commodities fall across the board

Chicago agricultural commodity futures were traded lower Friday, as a bearish weather forecast and reduced export potential pressured the trading most of the day. The most active corn contract for December delivery fell 6.5 cents, or 1.41 percent, to 4.5325 dollars per bushel. December wheat lost 6.5 cents, or 1.0 percent, to settle at 6.4725 dollars per bushel. November soybeans fell 2.0 cents, or 0.17 percent, to close at 11.8225 dollars per bushel. According to Chicago Mercantile Exchange, a mixed to somewhat bearish weather forecast over the next five days continued to keep any rally short lived in the corn market. The trade was looking for a slight increase in the U.S. corn yield, supply, and ending stocks for the 2013-14 crop year on next Monday's U.S. Department of Agriculture report. Wheat futures posted moderate losses midday with the September contract down 6 cents. The United States continues to post weekly sales to Brazil, which is supportive to the trading. However, other export business around the world has been tough, given much cheaper wheat supplies from Australia, the Black Sea and France. The soybean market traded higher Friday morning but fell off the session highs and was down by midday. Strong old crop cash markets and talk of an oversold technical condition were seen as supportive factors, but this failed to offer upside momentum.