Wheat and soybeans rise in Chicago on Thursday, corn prices decline

Wheat and soybean prices rose in Chicago on August 27, while corn futures declined. Wheat posted the strongest gains amid geopolitical tensions and disruptions to grain exports from the Black Sea region. December SRW wheat futures climbed to $279.52/t, with winter wheat prices reaching a three-year high.

Wheat prices also received support from US export sales and developments in the EU. US new-crop wheat export sales reached 402.5 thsd tons for the week, including 78.5 thsd tons to Mexico, 71.9 thsd tons to Japan and 65 thsd tons to Vietnam. Meanwhile, the European Commission lowered its EU wheat production estimate by 0.2 mln tons to 124.2 mln tons and cut its end-August stocks estimate by 1.6 mln tons to 11.3 mln tons.

Corn prices declined following gains earlier in the week. December Chicago futures fell 3 cents to $5.33½/bu, or around $210/t. US new-crop corn export sales totaled 1.066 mln tons for the week, bringing total 2026/27 sales to 12.458 mln tons, down 33.6% from the same period last season.

Soybeans ended the session higher, with November futures gaining 2 cents to $12.68/bu, or around $466/t. US new-crop soybean export sales reached 2.478 mln tons for the week, including 1.1 mln tons purchased by China and another 1.046 mln tons booked by unknown destinations.

In Europe, December wheat futures on MATIF rose to €247.5/t, while November corn climbed to €266.25/t. Overall, US agricultural markets ended August 27 mixed, with wheat and soybeans advancing while corn moved lower.

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