Wheat and corn prices declined in Chicago on Thursday

Global grain prices mostly declined on August 13. The most notable drop was seen in Chicago corn, with September CBOT futures falling 1.97% to $176.38/t. September SRW wheat remained unchanged at $239.84/t, while hard red winter and spring wheat futures in Kansas City and Minneapolis moved lower.

Corn prices came under additional pressure from weaker US new-crop export sales. Sales for the week ended August 6 totaled 924.5 thsd tons, a three-week low and down 54.9% from the same period last season. Another bearish factor was CONAB’s increase in its forecast for Brazil’s corn crop by 1.23 mln tons to 142.96 mln tons, including 111.03 mln tons of second-crop corn.

The US wheat market was also pressured by weak export demand. US new-crop wheat sales totaled just 255.9 thsd tons for the week, the second-lowest level of the current marketing year and 64.6% below the same week last season. September HRW wheat in Kansas City settled at $264.33/t, while Minneapolis spring wheat declined to $245.90/t.

European grain markets moved in the opposite direction. September wheat on MATIF gained 0.3% on Thursday to €221.50/t ($255.28/t), while November corn rose 1.35% to €251.75/t ($290.14/t). EU soft wheat exports since the start of the 2026/27 MY reached only 1.01 mln tons as of August 9, down 57% year-on-year, while corn imports increased by 25% to 1.58 mln tons.

Oilseed markets showed mixed dynamics. November soybean futures in Chicago edged down 0.08% to $434.40/t despite stronger Chinese demand, with China purchasing 1.446 mln tons of US new-crop soybeans during the week. Meanwhile, November canola futures on ICE rose 1.15% to 803.50 CAD/t.

Tags: corn, prices, Oilseed, wheat