Wheat and corn fall in Chicago, soybeans rise

Wheat and corn futures declined in Chicago on September 3, while soybeans ended the session higher. December wheat futures fell 2.55% to $277.13/t, while corn lost 0.51% to $212.89/t. November soybean futures, meanwhile, gained 0.46% to $483.63/t.

Wheat corrected after its previous strong rally. Prices also came under pressure from statements about the possibility of a peace settlement between Russia and Ukraine, which the market viewed as potentially reducing risks to Black Sea supplies. Meanwhile, US wheat export sales totaled 313.5 thsd tons in the week ended August 27, with Mexico and the Philippines among the largest buyers.

Corn also finished lower despite strong demand for the new US crop. Export sales of 2026/27 corn reached nearly 1.99 mln tons for the week, including 665 thsd tons purchased by Mexico and 371.8 thsd tons by Japan. Allendale estimates the US corn yield at 178.7 bushels per acre, below the USDA forecast of 180.7 bushels per acre.

Soybeans showed positive price dynamics, supported by strong new-crop demand. USDA reported a separate sale of 192 thsd tons of soybeans to China. Total export sales of 2026/27 soybeans reached 1.95 mln tons for the week, with China booking 972 thsd tons and another 669 thsd tons sold to unknown destinations.

European grain markets also moved lower. On Euronext, December wheat futures fell 3.15% to €248.75/t, while November corn declined 1.93% to €272/t. Wheat therefore posted the sharpest decline during the session, while Chicago soybeans remained in positive territory amid strong export demand.

Tags: corn, prices, soybean, wheat, futures, Chicago, global market