Wheat futures end mixed, while corn and soybeans decline in Chicago on Monday

On Monday, November 9, 2026, wheat futures closed mixed across US exchanges, while corn and soybeans declined on the Chicago Board of Trade (CBOT). December Chicago soft red winter (SRW) wheat futures fell 3.25 cents to $5.88 per bushel ($216.05/ton), while March contracts lost 2.25 cents to $6.005 per bushel. In Kansas City, December hard red winter (HRW) wheat futures were unchanged at $6.325 per bushel ($232.40/ton), while March contracts declined 0.5 cent to $6.3925. Meanwhile, December spring wheat futures in Minneapolis gained 6 cents to $6.22 per bushel ($228.54/ton), and March contracts rose 5.5 cents to $6.3675.

Wheat prices came under pressure from expectations of ample global supplies and the upcoming USDA report. Analysts forecast that global wheat ending stocks could rise to 277.1 mln tons in the 2026/27 marketing year. Meanwhile, US wheat export inspections totaled 248.5 thsd tons in the week ending November 5, bringing cumulative shipments since the beginning of the season to 7.8 mln tons, down 35.6% year-on-year. As of November 8, US farmers had planted 89% of the planned winter wheat area, while the share of crops rated good or excellent increased to 49%.

Corn futures in Chicago also ended Monday’s session lower. December contracts fell 2.25 cents to $4.3925 per bushel ($172.93/ton), March futures lost 3 cents to $4.5225, and May contracts declined 2.75 cents to $4.6075 per bushel. As of November 8, the US corn harvest was 81% complete, 5 percentage points behind the five-year average. Weekly US corn export inspections reached 905.3 thsd tons, while cumulative exports in the 2026/27 marketing year totaled 11.59 mln tons, down 15.9% year-on-year. Ahead of the WASDE release, analysts expected the US corn production forecast to be lowered to 15.98 bln bushels.

Bearish sentiment also prevailed in the soybean market. November CBOT soybean futures declined 6.75 cents to $11.8225 per bushel, January contracts lost 5.5 cents to $11.8825 ($436.60/ton), and March futures fell 4.25 cents to $11.95 per bushel. The US soybean harvest was 92% complete, 1 percentage point ahead of the average pace. Meanwhile, weekly soybean export inspections through November 5 totaled 1.896 mln tons, including 1.266 mln tons shipped to China. Despite strong exports, the market expected an upward revision to the US soybean production forecast to 4.596 bln bushels and ending stocks to 332 mln bushels. In Brazil, soybean planting was 64% complete as of November 5, compared with 61% a year earlier.

On the European MATIF exchange in Paris, wheat futures also traded mixed. December milling wheat contracts rose to €226.75/ton ($252.60/ton), while March futures declined to €222.75/ton ($248.14/ton). Meanwhile, MATIF corn futures advanced, with March contracts reaching €249.75/ton ($278.22/ton) and June futures rising to €247.25/ton ($275.44/ton). Against the backdrop of changes in global grain trade, Euronext announced plans to launch Black Sea wheat and corn futures contracts in 2027, with physical delivery through Romania’s port of Constanța.

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