Wheat and corn futures fall while soybeans trade mixed in Chicago on Friday

Wheat and corn futures declined on the Chicago Board of Trade (CBOT) on Friday, October 30, while soybean prices closed mixed. Corn recorded the largest losses, whereas wheat prices changed only slightly. Soybean futures retreated from intraday highs despite strong export demand.

December soft red winter wheat (SRW) futures in Chicago fell by 0.04% to $221.74/t, or $6.035 per bushel. Hard red winter wheat (HRW) futures in Kansas City declined to $236.72/t, while spring wheat futures in Minneapolis dropped to $229.19/t. According to USDA, US wheat export commitments totaled 11.626 mln tons, down 29% year-on-year and representing 57% of the annual export forecast.

In the corn market, December futures lost 0.78% to close at $176.28/t, or $4.4775 per bushel. March contracts declined by 3.75 cents to $4.61 per bushel, while May futures fell by 4 cents to $4.69. Market participants were also assessing prospects for the completion of the US harvest amid forecasts of deteriorating weather conditions.

Soybean futures ended the session mixed. November contracts rose by 2.5 cents to $12.2225 per bushel, while January futures slipped by 0.5 cents to $12.3425 per bushel, or approximately $453.60/t. March contracts gained 0.25 cents to close at $12.4375 per bushel. Reports of new US soybean export sales provided support to the market.

According to USDA, US soybean export commitments for the MY 2026/27 reached 28.778 mln tons, up 80% from the same period last year. This represents 62% of projected annual exports, compared with 39% a year earlier. USDA also reported a private export sale of 132 thsd tons of soybeans to undisclosed buyers. Meanwhile, according to the Buenos Aires Grain Exchange, soybean planting in Argentina had reached 23.3% of the planned area.

In Europe, wheat futures ended Friday’s session higher. December milling wheat futures on Euronext MATIF in Paris rose by 0.66% to €228/t, or $254.93/t. Meanwhile, November corn futures declined by 0.11% to €307.75/t ($344.10/t), while March contracts traded at €258.75/t ($289.31/t).

Tags: corn, grain, soybean, oilseeds, wheat, global market