Wheat, corn and soybean futures rise in Chicago on Tuesday

Futures for major grains and oilseeds on the Chicago Board of Trade (CBOT) closed higher on Tuesday, November 10, 2026, following the release of USDA’s November WASDE report. December wheat futures gained 0.81% to $217.79/ton, while December corn futures rose 2.22% to $176.77/ton. Soybeans recorded the strongest increase, with January futures climbing 3.35% to $451.20/ton. Updated estimates of US crop production, inventories and export demand provided support to the market.

Wheat prices followed corn and soybeans higher despite upward revisions to global supply forecasts. December Chicago soft red winter (SRW) wheat futures closed at $5.9275 per bushel, up 4.75 cents, while March contracts gained 4.75 cents to $6.0525 per bushel. In Kansas City, December hard red winter (HRW) wheat futures rose 1.75 cents to $6.3425 per bushel, while March futures increased by 2.5 cents to $6.4175. In Minneapolis, December spring wheat futures advanced 6.75 cents to $6.2875 per bushel, and March contracts gained 6 cents to $6.435.

Meanwhile, USDA raised its global wheat production forecast by 5.12 mln tons, reflecting improved estimates for Argentina, Australia, Kazakhstan and Ukraine. Global wheat ending stocks were revised upward by 4.78 mln tons to 280.82 mln tons. Ukraine’s wheat export forecast was lowered by 1 mln tons to 11.5 mln tons, while Russia’s was reduced by 1 mln tons to 39 mln tons. As of November 8, US winter wheat planting was 89% complete, while the share of crops rated good or excellent had increased to 49%.

Corn prices rose after USDA lowered its US yield and production forecasts. December futures gained 9.75 cents to $4.49 per bushel, March contracts increased by 9.25 cents to $4.615, and May futures advanced 9 cents to $4.6975 per bushel. According to USDA’s latest estimates, average US corn yields are projected at 179.6 bushels per acre, down 1.6 bushels from the October forecast. Production was reduced by 141 mln bushels to 15.893 bln bushels, while ending stocks were lowered by 91 mln bushels to 1.758 bln bushels. Meanwhile, global corn ending stocks for 2026/27 were raised by 1.5 mln tons to 281.94 mln tons.

The strongest gains were recorded in the soybean market. November futures rose 42.25 cents to $12.245 per bushel, January contracts climbed 39.75 cents to $12.28, and March futures gained 39.5 cents to $12.345 per bushel. USDA lowered its forecast for US soybean ending stocks by 15 mln bushels to 300 mln bushels, mainly reflecting a 25 mln bushel increase in projected exports. At the same time, soybean production was revised upward by 12 mln bushels to 4.574 bln bushels, while the yield forecast increased to 53.3 bushels per acre. Global soybean ending stocks were reduced by 0.78 mln tons to 123.5 mln tons.

Additional support came from new US agricultural export sales. USDA reported sales of 312.7 thsd tons of corn and 150 thsd tons of soybeans to Mexico. As of November 8, the US corn harvest was 81% complete, while soybean harvesting had reached 92%. Corn harvest progress remained 5 percentage points below the five-year average, whereas soybean harvesting was 1 percentage point ahead of the average.

European grain futures also ended Tuesday higher. On the Paris MATIF exchange, December milling wheat futures rose to €230.50/ton ($258.71/ton), while March contracts reached €226.75/ton ($254.50/ton). March corn futures increased to €255/ton ($286.21/ton), while June contracts climbed to €252.25/ton ($283.13/ton).

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