Wheat falls while corn and soybeans rise in Chicago on Friday

On Friday, September 25, wheat futures declined on the Chicago Board of Trade, while corn and soybeans posted modest gains. December wheat futures fell 0.53% to $258.40/t, December corn rose 0.14% to $207.97/t, while November soybeans increased 0.11% to $484.64/t.

Wheat remained under pressure amid slower US export sales. US wheat export commitments totaled 9.449 mln tons, down 31% y/y and equal to 45% of USDA’s projected exports, compared with an average sales pace of 54%.

December corn futures closed at $5.28¼/bu, up ¾ cent. At the same time, US corn export commitments stood at 18.238 mln tons, down 29% y/y and equal to just 22% of the USDA forecast, versus an average sales pace of around 29% for this point in the season.

Soybean prices were mostly higher, with November futures rising to $13.19/bu and January futures to $13.32½/bu. The market was supported by stronger export demand, with US soybean export purchases reaching 21.2 mln tons, up 94% from the same period last year.

European grain markets also moved lower on Friday. On MATIF, December wheat futures fell to €236.75/t, while November corn declined to €271/t. Overall, wheat remained under the strongest pressure at the end of the week, while corn and soybeans posted modest gains in Chicago.

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