Wheat, corn and soybeans rise in Chicago on Tuesday

Futures for major grains and oilseeds ended higher in Chicago on August 25. September SRW wheat gained 0.55% to $251.87/t, September corn rose 1.83% to $197.05/t, while November soybeans increased 1.1% to $454.79/t.

Corn posted the strongest gains, supported by deteriorating US crop conditions. The share of corn rated good to excellent fell by 3 percentage points over the week to 47%. Meanwhile, Brazil’s corn area could expand by 3.1% to 23.3 mln ha in 2026/27, while Argentina’s area is expected to remain unchanged from last year at 8.4 mln ha.

Soybeans were also supported by weaker US crop ratings and a new export sale. The share of soybeans rated good to excellent declined by 1 percentage point to 60%. USDA also reported a private sale of 132 thsd tons of US soybeans to an unknown destination.

Wheat gains were more moderate. By August 23, the US spring wheat harvest was 62% complete, 10 percentage points ahead of the average pace, while the share of the crop rated good to excellent declined to 51%. At the same time, India could add supply to the global market as it lifts restrictions on wheat exports.

European markets moved in the opposite direction. On Euronext, September wheat remained at €227.50/t, while the December contract declined to €236.75/t. November corn fell to €261.25/t, contrasting with gains in US futures.

Tags: corn, prices, soybean, wheat, futures, Chicago