Wheat trades mixed while corn and soybeans decline in Chicago on Wednesday

On Wednesday, October 14, wheat futures on US exchanges closed mixed, while corn and soybeans declined. On the Chicago Board of Trade (CBOT), December wheat rose by 0.60% to $247.37/t, corn fell by 0.41% to $189.27/t, and November soybean futures lost 0.51%, closing at $469.30/t. Meanwhile, hard red winter wheat futures in Kansas City increased to $262.71/t, while spring wheat futures in Minneapolis declined to $253.53/t.

The wheat market found support from delays in US winter wheat planting. According to NASS, as of October 11, winter wheat had been planted on 51% of the planned area, 7 percentage points below the five-year average. The largest delays were recorded in Kansas, Michigan and Ohio. Traders also focused on Algeria’s tender on October 13, when the country purchased 660–720 thsd tons of wheat at approximately $326/t CIF. December soft red winter wheat futures in Chicago gained 4 cents to $6.73¼ per bushel.

Corn futures ended the session lower amid crop estimates and the current pace of harvesting in the United States. The December CBOT contract fell by 2 cents to $4.80¾ per bushel, while March futures declined by 2¼ cents to $4.94¼. According to NASS, as of October 11, US farmers had harvested 33% of the corn crop, 6 percentage points behind the average pace. The largest delays were recorded in Iowa, Michigan and South Dakota.

Soybean futures also declined despite confirmation of new US export sales to China. November futures lost 6.5 cents to $12.77¼ per bushel, while January futures fell by 8 cents to $12.92. USDA reported the sale of 470 thsd tons of soybeans to China for delivery in the 2026/27 marketing year. Meanwhile, as of October 11, US farmers had harvested 46% of soybean acreage, 4 percentage points below the average. Another factor affecting the market was Chinese company Sinograin’s plan to auction an additional 504 thsd tons of imported soybeans on October 20.

In the European market, grain futures mostly advanced. December milling wheat futures on the Paris-based MATIF exchange rose to €248.25/t, or approximately $278.02/t, while March contracts closed at €248/t. November corn futures increased to €303/t, equivalent to around $339.33/t, while March futures stood at €280.75/t. Thus, European grain exchanges recorded positive performance despite declining corn and soybean futures in Chicago.

Tags: Grains, oilseeds, wheat, global market, furutes, corn, prices, soybean