Wheat down 3-5 cents, corn mixed, soy up 2-4
DBA•Ahead of Thursday’s CBOT session, wheat was expected to fall 3 to 5 cents per bushel, corn to be mixed, and soybeans to rise 2 to 4 cents. December wheat was last down 4-1/2 cents at $7.04 per bushel, December corn down 1-1/2 cents at $5.27-1/2, and November soybeans up 3-3/4 cents at $13.21-3/4.
1. Wheat and corn
Wheat futures fell for a third straight session, pressured by a stronger US dollar as traders monitored diplomatic efforts to ease Black Sea export disruptions. US wheat export sales totaled 267,600 metric tons for the week ended September 17, below trade estimates of 350,000 to 600,000 tons. Corn futures were mixed as investors awaited the US-China summit; export sales totaled 838,300 metric tons, below trade expectations.
2. Soybeans and weather
Soybean futures firmed ahead of the US-China summit. US soybean export sales totaled 582,400 metric tons for the week ended September 17, below trade expectations, while private exporters reported a sale of 120,000 metric tons to China for delivery in the 2026/2027 marketing year. Forecast heavy rain across the Plains and much of the Midwest through the weekend, and another wet system early next week, could add delays to the corn and soybean harvest.
3. Black Sea exports
Russia and Ukraine have stepped up attacks on each other’s grain vessels in the Black Sea in recent months. Russia’s Krasnodar region declared a state of emergency over Ukrainian drone attacks that have inhibited grain exports. Russian wheat buyers numbered eight in September, down from 26 a year earlier, data from the Russian Grain Union showed.
