Wheat fell, while corn and soybeans rose in Chicago on Monday

On Monday, September 14, wheat futures in Chicago declined, while corn and soybeans moved higher. The December CBOT soft red winter wheat contract fell 0.45% to $265.29/t. December corn gained 0.57% to $209.94/t, while November soybean futures rose 0.60% to $479.22/t.

Wheat remained under pressure amid advancing US harvest progress and weaker export performance. As of September 13, 93% of the spring wheat crop had been harvested, 1 percentage point ahead of the average pace. Winter wheat planting reached 8% of the expected area, 4 percentage points below the five-year average. Weekly wheat export inspections totaled 456.7 thsd tons, while cumulative shipments since the start of the season reached 5.676 mln tons, down 27.8% year on year.

Corn received support from strong export shipments. Weekly US corn export inspections reached 1.525 mln tons, with Mexico, South Korea and Japan among the largest buyers. As of September 13, US farmers had harvested 8% of the corn crop, while 57% of fields were rated good to excellent.

Soybean futures also ended the session higher. The November contract rose to $13.04 per bushel. In the US, soybean harvesting was 6% complete compared with the average pace of 3%, while 58% of the crop remained in good to excellent condition. In Brazil, planting of the new soybean crop had reached only 0.4% of the planned area as of September 10.

On MATIF, December wheat futures fell 0.29% to €240.50/t, while the March contract edged up to €242.75/t. November corn declined 0.5% to €262.50/t, while March corn slipped to €261.75/t. Overall, the European grain market ended Monday mostly lower.

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