Wheat, corn and soybeans fall in Chicago on Thursday
Wheat, corn and soybean futures on the CBOT ended Thursday, October 8, lower. December wheat fell 0.47% to $251.05/t, corn declined 0.35% to $196.95/t, while November soybeans lost 0.77% and closed at $473.07/t.
Other US wheat contracts also came under pressure. December hard red winter wheat in Kansas City fell to $270.52/t, while spring wheat in Minneapolis declined to $259.41/t. Weekly US wheat export sales totaled 451.6 thsd tons, with the Philippines, South Korea and Japan among the largest buyers.
US corn export sales reached 769.5 thsd tons for the week, including 508.8 thsd tons sold to Mexico, 196.6 thsd tons to Colombia and 96.8 thsd tons to Japan. Ahead of the USDA forecast update, market participants expect corn yield to fall to 177.8 bushels/acre and production to 15.733 bln bushels.
US soybean export sales totaled 549.4 thsd tons. China purchased 382.9 thsd tons, Mexico 139.8 thsd tons and Tunisia 60 thsd tons. Analysts expect soybean yield to rise to 52.9 bushels/acre and production to 4.538 bln bushels, while ending stocks are projected slightly lower.
European markets were also mostly weaker. December milling wheat on MATIF remained at €244.25/t, although its dollar equivalent slipped to $273.46/t. November corn declined to €274/t, or $306.77/t, down 1.29% from the previous session.
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