WEAT•| Prices at 1134 GMT | |||
| Last | Change | Pct Move | |
| CBOT wheat Wv1 | 648.25 | -2.75 | -0.42 |
| CBOT corn Cv1 | 471.00 | -1.50 | -0.32 |
| CBOT soy Sv1 | 1184.25 | -8.00 | -0.67 |
| Paris wheat BL2c1 | 222.75 | -3.00 | -1.33 |
| Paris maize EMAc1 | 243.00 | 0.00 | 0.00 |
| Paris rapeseed COMc1 | 520.50 | -3.00 | -0.57 |
| WTI crude oil CLc1 | 79.97 | -0.37 | -0.46 |
| Euro/dollar EUR= |
| 1.15 |
| 0.00 |
| 0.10 |
| Most active contracts - Wheat, corn and soy U.S. cents/bushel, Paris futures in euros per metric ton |
Corn edged down after tracking wheat higher on Monday, with the market weighing a further decline in U.S. corn crop ratings against the return of rain to parts of the Midwest.
After Monday's close, the U.S. Department of Agriculture lowered its condition rating for the U.S. corn crop for a third consecutive week following hot, dry weather in the Midwest.
It said 61% of corn was in good-to-excellent condition, as of Sunday, down from 63% a week earlier, a lower score than expected on average by analysts.
Concerns about crop stress in the Midwest have been tempered by forecasts of a large crop in Brazil. Consultancy AgRural on Monday raised its forecast for Brazil's total corn production in 2025/26 by nearly 3 million metric tons to 142.8 million tons.
CBOT corn Cv1 edged 0.3% lower to $4.71 a bushel.
CBOT soybeans Sv1 slipped 0.7% to $11.84-1/4.
News of a streak of U.S. export sales to China was seen as priced in, analysts said.
The USDA kept its weekly soybean crop condition rating unchanged at 63% good to excellent.
Weather forecasts projected regular rain and moderate temperatures in much of the Midwest for the first half of August as U.S. soybeans enter a crucial growth period.
Chicago wheat futures ticked lower on Tuesday after a sharp rise in the previous session, as traders assessed risks to Black Sea export flows from fighting between Russia and Ukraine.
The most-traded wheat contract on the Chicago Board of Trade Wv1 was down 0.4% at $6.48-1/4 a bushel, as of 1234 GMT.
The contract had risen 1.8% on Monday, rebounding from a three-week low as renewed attacks on vessels in the Russia-Ukraine war rekindled concern about disruption to massive exports through the Black Sea.
"Tensions remain palpable in this key region for global grain trade," Argus Media analysts said in a note.
Ukraine and Russia have been using drones and missiles to attack one another's ships and ports.
Russian export prices fell last week under pressure from rising freight rates and insurance premiums, analysts said, though they still expect Russia to ship more wheat in August than in July.
There is scope for further price gains, said Andrew Whitelaw, an analyst at consultants Episode 3 in Canberra.
"In the next few months we will potentially see significant impact on exports," he said. "The market's not fully pricing it in."
Wheat also drew strength from news that major importer Algeria has issued a purchase tender, which has increasingly sourced supplies from the Black Sea zone.
However, large global supplies, including the prospect of bumper harvests in the Black Sea region, were keeping wheat prices in check.
