Wheat and corn rise, while soybeans fall in Chicago on Monday

Wheat and corn futures on the Chicago Board of Trade (CBOT) closed higher on Monday, November 2, 2026, while soybean prices declined. December soft red winter (SRW) wheat futures gained 0.5% to $222.85/t, or $6.065 per bushel. In Kansas City, December hard red winter (HRW) wheat futures rose to $237.36/t, while spring wheat contracts in Minneapolis reached $229.92/t.

Wheat prices found support from US winter wheat crop condition data. As of November 1, American farmers had planted 83% of the planned winter wheat area, 1 percentage point below the five-year average. Emergence reached 65%, while 44% of the crop was rated in good or excellent condition. Meanwhile, total US wheat export shipments since the beginning of the 2026/27 marketing year reached 7.528 mln tons, up 36.34% from the same period last year.

Corn futures in Chicago also posted modest gains. December contracts increased by 0.11% to $176.48/t, or $4.4825 per bushel, while March futures rose to $4.62 per bushel. USDA reported private export sales of 1.73 mln tons of US corn to Mexico, including 1.135 mln tons scheduled for delivery during the current marketing year. As of November 1, the US corn harvest was 74% complete, 3 percentage points behind the five-year average.

Soybean futures, meanwhile, traded lower. January contracts on CBOT fell by 1.44% to $447.07/t, or $12.1675 per bushel, losing 17.5 cents during the session. Prices came under pressure from abundant new-crop supplies and declining crude oil prices, which weakened the outlook for biofuel feedstock demand. At the same time, USDA confirmed the sale of 136 thsd tons of US soybeans to China. US soybean export inspections for the week ending October 29 totaled 2.445 mln tons, including 1.524 mln tons shipped to China.

On the European market, trading on the Paris-based MATIF exchange ended with mixed wheat prices and lower corn futures. December milling wheat contracts rose to €228.25/t, while March futures declined to €227.25/t. November corn futures fell to €276.50/t, and March contracts decreased to €256.25/t.

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