Wheat, corn and soybeans fall in Chicago on Tuesday

On Tuesday, November 3, 2026, wheat, corn and soybean futures on the Chicago Board of Trade (CBOT) ended the session lower amid expectations of a large US harvest, concerns over export demand and prospects for increased global grain supplies. December soft red winter wheat (SRW) futures fell 1.1% to $220.37/t, or $5.9975 per bushel. Corn declined 1.3% to $174.20/t, or $4.425 per bushel, while January soybean futures slipped to $446.07/t, or $12.14 per bushel.

Wheat prices came under additional pressure following reports of planned trilateral talks between Ukraine, the US and Russia in Abu Dhabi on November 10–11. Market participants are assessing the potential impact of reduced military risks on grain shipments from the Black Sea region. Expectations of large harvests in major exporting countries also weighed on prices. December hard red winter wheat (HRW) futures in Kansas City declined to $233.78/t, or $6.3625 per bushel, while Minneapolis spring wheat futures fell to $227.63/t, or $6.195 per bushel.

Corn recorded the largest decline among the major grain contracts. December CBOT futures lost 5.75 cents per bushel, reaching their lowest level in approximately four months. The main factors were ample US grain supplies and concerns about the pace of exports. The USDA reported new sales of 315 thsd tons of corn to Mexico and 136 thsd tons to South Korea for delivery in the 2026/27 marketing year. However, these deals failed to support the market, as export demand remained weaker than a year earlier. As of November 1, the US corn harvest was 74% complete.

Soybean futures also ended the session lower. January contracts lost 2.75 cents to $12.14 per bushel, or $446.07/t. Prices were pressured by substantial new-crop supplies in the US, where 88% of the soybean area had been harvested as of November 1, as well as competition from Brazil in the global export market. Meanwhile, the USDA confirmed a new sale of 134 thsd tons of US soybeans to undisclosed buyers for the 2026/27 marketing year. Nevertheless, traders remained cautious about demand prospects, particularly from markets outside China.

On the European market, trading on the Paris-based MATIF exchange ended with lower wheat prices and mixed movements in corn futures. December milling wheat futures fell €3/t to €225.25/t, while March contracts lost €3.25/t to €224/t. November corn futures, by contrast, rose €14.25/t to €290.75/t, while March contracts declined €5.50/t to €250.75/t.

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