Wheat, corn and soybeans fell in Chicago on Friday

Wheat, corn and soybean futures on the CBOT ended Friday, September 11, lower. December wheat fell 2.16% to $266.48/t, December corn declined 0.66% to $208.76/t, while November soybean futures lost 2.68% to close at $476.37/t.

Wheat came under pressure after USDA raised its forecast for global ending stocks in 2026/27 by 3.04 mln tons to 276.29 mln tons. At the same time, the wheat production forecast for Australia was increased by 3 mln tons and for Canada by 1 mln tons, while combined exports from Russia and Ukraine were cut by 4 mln tons.

Corn prices declined despite a lower US crop forecast. USDA reduced its US production estimate by 213 mln bushels to 15.8 bn bushels and cut the yield forecast by 2.2 bushels/acre to 178.5 bushels/acre. Global ending stocks of new-crop corn were lowered by 2.55 mln tons to 272.1 mln tons.

Soybeans posted the largest decline among the three crops on Friday. USDA raised its US yield forecast to 52.8 bushels/acre and increased the production estimate by 16 mln bushels to 4.535 bn bushels. At the same time, US soybean ending stocks for 2026/27 were cut by 10 mln bushels to 310 mln bushels, while global stocks were lowered to 124.02 mln tons.

European markets also moved lower. On MATIF, December wheat futures fell 1.9% to €241/t, while November corn declined 0.75% to €263.75/t. March wheat futures closed at €242/t and March corn at €262.25/t.

US export demand nevertheless remains active. New-crop corn sales for the week ended September 3 reached 1.93 mln tons, while soybean sales totaled 2.64 mln tons. USDA also reported a separate sale of 264 thsd tons of new-crop corn to Mexico.

Tags: corn, prices, soybean, wheat, futures, Chicago, global market, MАTIF