Wheat, corn and soybeans decline in Chicago on Monday

Wheat, corn and soybean futures declined on the Chicago Board of Trade (CBOT) on Monday, October 19, amid weak US grain export figures and assessments of fieldwork progress in the country. December wheat futures fell by 0.8% to $240.76/t, while December corn contracts declined by 1.53% to $183.86/t. November soybean futures lost 0.61% and closed at $460.57/t. Corn recorded the sharpest decline, with disappointing export shipment figures adding pressure to prices.

Wheat prices declined across all three major US exchanges. December soft red winter wheat futures in Chicago closed at $240.76/t, hard red winter wheat futures in Kansas City at $257.02/t, and spring wheat futures in Minneapolis at $246.18/t. According to USDA, US wheat export inspections for the week ended October 15 totaled 240.3 thsd tons. The main destinations were Vietnam, Egypt and Colombia. Total shipments since the beginning of the marketing year reached 7.219 mln tons, down 64.43% from the corresponding period of the previous season. Meanwhile, as of October 18, US winter wheat planting was 63% complete, 6 percentage points below the five-year average.

Corn futures posted the largest losses on Monday. December contracts fell by 7.25 cents per bushel to $4.67, equivalent to $183.86/t. According to USDA, corn export inspections for the week ended October 15 totaled 672.5 thsd tons, including 305.5 thsd tons shipped to Mexico and 205.5 thsd tons to Colombia. Total US corn exports since the beginning of the 2026/27 marketing year reached 9.131 mln tons, down 2.29% year-on-year. Meanwhile, the US corn harvest was 44% complete, 8 percentage points behind the average pace. The share of the crop rated good or excellent remained unchanged at 56%.

Soybean prices also declined despite new export sales of US supplies. November futures closed at $12.535 per bushel, or $460.57/t, down 7.75 cents. USDA confirmed additional private export sales of 114 thsd tons of soybeans to China and 261 thsd tons to unknown destinations. US soybean export inspections for the week ended October 15 totaled 2.002 mln tons, of which 1.282 mln tons were shipped to China. Total shipments since the beginning of the marketing year reached 7.159 mln tons, up 26.6% year-on-year. As of October 18, US farmers had harvested 64% of the soybean area, just 1 percentage point behind the average pace.

European grain markets showed mixed price movements. On the Paris MATIF exchange, December milling wheat futures declined to €243.50/t, while November corn contracts rose to €292.75/t. Market participants are also monitoring planting progress in Brazil, which will influence the outlook for global grain and oilseed supplies. According to AgRural, corn planting in Brazil’s central-southern region has reached 48% of the planned area, compared with 51% a year earlier. Meanwhile, soybean planting is 26% complete, compared with 24% last year. Further movements in futures prices will depend on the pace of the US harvest, export demand and weather conditions in South America.

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