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CBOT Trends-Wheat down 4-6 cents a bushel, corn steady-up 1 cent, soy down 4-6 cents

ReutersSep 4, 2025 1:08 PM

- The following are U.S. expectations for the resumption of grain and soy complex trading at the Chicago Board of Trade at 8:30 a.m. CDT (1330 GMT) on Thursday.

NOTE: The USDA's weekly export sales report is delayed until Friday due to Monday's federal holiday.

WHEAT - Down 4 to 6 cents per bushel

  • Chicago wheat futures turned lower for a third session, with numerous contracts setting fresh lows, as ample global supplies continued to weigh on the cereal market.

  • A large Russian export is set to boost wheat exports from the Black Sea region, while Australia's upcoming harvest is increasingly expected to be well above average.

  • In the European Union, Germany's winter wheat harvest is expected to rise 26% this year, the German agriculture ministry said.

  • Tunisia's state grains agency is believed to have purchased about 125,000 metric tons of soft wheat to be sourced from optional origins in an international tender on Wednesday, European traders said.

  • CBOT December soft red winter wheat WZ25 was down 5-3/4 cents at $5.16-1/4 per bushel by 7:43 a.m. CDT (1243 GMT).

  • K.C. December hard red winter wheat KWZ25 was down 5 cents at $5.05-1/4 per bushel. Minneapolis December wheat MWEZ25 was down 1-1/2 cents at $5.71-1/2 a bushel.

CORN - Steady to up 1 cent per bushel

  • CBOT corn was mostly steady to 1 cent higher, as traders weighed a looming record U.S. harvest against support from brisk exports.

  • A farmer survey conducted by agricultural commodity brokerage and analysis firm Allendale forecast the U.S. 2025 corn crop at a record 16.631 billion bushels, with an average yield of 187.52 bushels per acre, the company said on Wednesday.

  • Weather forecasts for the U.S. Midwest are calling for rain in parts of the northwestern Corn Belt and northern Plains region - but drier conditions for much of the region as harvest approaches.

  • Ukraine's corn harvest is likely to reach 31.3 million metric tons this season, up from 26.9 million tons in 2024/25 but 9% below the five-year average, Argus Media said on Thursday following a recent virtual corn crop tour.

  • CBOT December corn CZ25 was 3/4-cent higher at $4.18-3/4 per bushel by 7:48 a.m. CDT (1248 GMT).

SOYBEANS - Down 4 to 6 cents per bushel

  • A lack of new-crop U.S. soybean purchases by China, amid trade tensions between Beijing and Washington, continues to cloud the export demand outlook.

  • Market analysts said weak overnight trading volume of the November soybean SX25 contract - testing technical support - traders' attention early Thursday.

  • Weakness in CBOT soymeal and soyoil futures markets also weighed on the soy complex.

  • Brazil soy exports seen reaching 6.75 million metric tons in September, versus 5.16 million tons in the same period last year, Anec reported Thursday.

  • Meanwhile, Brazil's soybean planted area is expected to grow by just 1.5% in the 2025/26 season, Rabobank said in a report on Wednesday, calling the expansion "limited" and noting it lags the historical average of 3.5%.

  • But that would still mean Brazil is set to again plant a record large acreage for soybeans later this month, as the country has been supplying China as Beijing avoids purchasing U.S. oilseeds.

  • CBOT November soybeans SX25 were down 6 cents at $10.25-1/2 per bushel by 7:52 a.m. CDT (1252 GMT).

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