Wheat, corn and soybeans fall in Chicago on Friday

Wheat, corn and soybean futures on the Chicago Board of Trade (CBOT) closed lower on Friday, October 16, 2026. December soft red winter wheat futures declined by 1.42% to $242.69/t, while December corn contracts lost 0.79% to settle at $186.71/t. November soybean futures fell by 1.14% to $463.42/t. Prices remained under pressure despite active US export sales of grains and oilseeds.

In the wheat market, downward price pressure coincided with new export demand figures. According to the US Department of Agriculture (USDA), US wheat export sales totaled 319.9 thsd tons in the week ended October 8. The largest buyers were Taiwan with 105.8 thsd tons, Sri Lanka with 68.1 thsd tons and Mexico with 52.3 thsd tons. Meanwhile, prices declined not only for soft red winter wheat in Chicago but also for hard red winter and spring wheat traded in Kansas City and Minneapolis.

Corn also ended the week lower, although demand for US grain remained active. According to the USDA, export sales of US corn for the 2026/27 marketing year reached 1.122 mln tons in the week ended October 8. The largest buyers were Mexico with 544.5 thsd tons, Japan with 220.1 thsd tons and South Korea with 199.9 thsd tons. In addition, the USDA reported a separate sale of 127 thsd tons of corn to Japan, while a South Korean importer purchased another 134 thsd tons of corn of optional origin. Meanwhile, China maintained its corn import quota for 2027 at 7.2 mln tons.

Bearish sentiment also prevailed in the soybean market despite additional purchases by China. The USDA confirmed another 558 thsd tons of private US soybean export sales to Chinese buyers, bringing total reported sales to China during the reporting week to 1.358 mln tons. Meanwhile, weekly export data showed soybean sales of 574.9 thsd tons for the week ended October 8. The largest buyers were China, Egypt and Bangladesh. Soybean meal sales totaled 366.3 thsd tons during the period, while soybean oil sales reached 1.2 thsd tons.

European grain markets also recorded price declines. On the Paris MATIF exchange, December milling wheat futures fell to €243.75/t, while November corn contracts declined to €292.50/t. According to FranceAgriMer, French farmers had planted 15% of the planned winter wheat area as of October 12. Meanwhile, favorable weather conditions in Canada helped accelerate the soybean harvest, although only 72% of the area had been harvested as of October 6, compared with 89% a year earlier. Canada’s 2026 canola production forecast remains unchanged at 22.3 mln tons.

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