Wheat, corn and soybean futures fall in Chicago on Tuesday

Wheat, corn and soybean futures on the Chicago Board of Trade (CBOT) ended lower on Tuesday, October 27, 2026. December soft red winter wheat futures fell 0.93% to $224.22/t, while December corn contracts declined 1.37% to $176.67/t. January soybean futures dropped 0.76% to $456.72/t. Grain and oilseed markets came under pressure from prospects of increased global supplies and ongoing harvest progress in the United States.

December soft red winter (SRW) wheat futures in Chicago fell 5.75 cents to $6.1025 per bushel, while March contracts lost 6.75 cents to $6.23. In Kansas City, December hard red winter (HRW) wheat futures declined 8.5 cents to $6.505 per bushel, while December spring wheat futures in Minneapolis dropped 5.5 cents to $6.285. Additional pressure came from wheat production forecasts of 32 mln tons in Australia and 23 mln tons in Argentina, both above official USDA estimates. Meanwhile, as of October 25, US winter wheat planting had reached 76% of the planned area, 1 percentage point below the five-year average.

Corn futures also declined, with December contracts falling 6.25 cents to $4.4875 per bushel, March futures losing 6 cents to $4.6275, and May contracts dropping 6.25 cents to $4.7125. As of October 25, US farmers had harvested 60% of the corn area, 6 percentage points behind the average pace. Meanwhile, the USDA attaché in Argentina estimated the country’s 2026/27 corn production at 62 mln tons, compared with the official forecast of 55 mln tons. Brazil’s ANEC lowered its October corn export forecast from 6.87 mln to 6.1 mln tons. EU corn imports increased by 36% to 7.11 mln tons amid lower domestic production.

In the soybean market, November futures fell 12 cents to $12.2925 per bushel, January contracts declined 9.5 cents to $12.43, and March futures lost 9.25 cents to $12.5175. According to USDA data, 79% of the US soybean crop had been harvested as of October 25, 2 percentage points ahead of the average pace. Meanwhile, ANEC estimated Brazil’s October soybean exports at 6.15 mln tons, down 16.5% from September and 8.59% year on year. In China, state-owned Sinograin sold 172.24 thsd tons of imported soybeans out of 512 thsd tons offered at its latest auction.

European markets showed mixed performance. On Tuesday, December milling wheat futures on the Paris-based MATIF exchange rose to €228.50/t, equivalent to $255.33/t (+0.62%). March wheat contracts were quoted at €228/t. Meanwhile, November corn futures stood at €283.25/t, or $316.50/t, showing a slight decline of 0.08% in US dollar terms. March corn contracts traded at €263.25/t.

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