U.S. wheat futures falls in the last week of February

There was a 2-day straight decline

{reg}[PAID={"id":"12,13,14","title":"The content you tried to access is only available to paid subscribers.","link":"1"}]In the U.S., wheat futures fell 2.8 percent on February 26, in a second-straight day of declines, according to Market Screener. There was a profit-taking setback as warming weather reduced the threat of damage to the dormant crop.

Corn and soybean futures also were weaker but closed above session lows after finding technical support.

Soybeans rose 1.5 percent in the last week of February, and hit a 6.5-year high on February 25. CBOT May soybeans futures fell 3-1/4 cents at USD 14.04-1/4 a bushel. Soybeans ended February with a ninth consecutive monthly gain, against a backdrop of dwindling U.S. stocks and slow rain in Brazilian harvest, which raised uncertainty about availability to meet strong Chinese demand.

In China, soybeans crushers are expected to curb activity due to Brazilian harvest delays. Meanwhile, outbreaks of African swine fever have created concern about feed demand.

CBOT May wheat was off 15-1/2 cents at USD 6.60-1/4 a bushel and CBOT May corn was down 2-1/4 cents at USD 5.47-1/2 a bushel. Corn futures rose 0.7 percent last week and wheat was up 1.7 percent.