Wheat and corn rise in Chicago on Thursday, soybeans fall

Wheat and corn futures rose on CBOT on Thursday, October 1, while soybeans declined. December wheat futures gained 1.04% to $250.86/t, corn rose 0.30% to $197.74/t, while November soybeans fell 0.70% to $471.78/t.

Wheat was supported by US export sales. In the week ended September 24, US wheat sales totaled 289.3 thsd tons, including 94.4 thsd tons to Mexico and 63 thsd tons to the Philippines. Taiwan also announced a tender for 105.8 thsd tons of US wheat, while a South Korean buyer purchased 100 thsd tons.

Corn also closed higher. Additional support came from StoneX cutting its US corn yield estimate by 0.8 bushels to 182.1 bushels per acre, reducing its production forecast by 92 mln bushels to 16.115 bln bushels.

Soybean futures, meanwhile, moved lower, with the November contract falling 9 cents to close at $12.84 per bushel. The decline came despite strong export sales, with the US selling 1.034 mln tons of new-crop soybeans during the week, including 589.4 thsd tons to China and 111.5 thsd tons to Egypt.

European grain markets also moved higher. December wheat on MATIF rose 1.16% to $270.79/t, while November corn gained 0.75% to $301.94/t.

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