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CBOT Trends-Wheat down 2-3 cents, corn steady, soybeans up 5-7 cents

ReutersSep 11, 2025 1:29 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: Traders await monthly supply/demand reports, including updated U.S. crop estimates, due from the U.S. Department of Agriculture on Friday.

Also, CBOT September grain and soy futures contracts expire on Friday.

WHEAT - Down 2 to 3 cents per bushel

  • CBOT wheat Wv1 futures turned lower in early moves, with several months setting contract lows amid adequate global supplies and sluggish demand.

  • The U.S. Department of Agriculture reported export sales of U.S. wheat in the week ended September 4 at 305,400 metric tons, at the low end of trade expectations for 300,000 to 650,000 tons. EXP/WHE

  • Commodities research company Expana raised its estimate of the European Union's 2025/26 soft wheat crop to 136.1 million metric tons, up 3.3 million tons from its August projection.

  • CBOT December soft red winter wheat WZ25 was last down 2-3/4 cents at $5.12-1/4 per bushel. K.C. December hard red winter wheat KWZ25 was last down 3-1/2 cents at $5.03-1/2 a bushel and Minneapolis December wheat MWEZ25 was last down 1-1/2 cents at $5.68 a bushel.

CORN - Steady to up 1/2 cent per bushel

  • CBOT corn Cv1 was mostly steady at the daily pause in trade, with the benchmark December contract CZ25 paring modest gains on smaller-than-expected weekly U.S. export sales data. Market players await updated U.S. crop estimates in the USDA's monthly supply-demand reports on Friday.

  • The USDA reported export sales of U.S. 2025/26 corn in the week ended September 4 at 539,900 metric tons, below trade expectations, with 1,169,700 tons carried over from the 2024/25 marketing year. EXP/CORN

  • Analysts surveyed by Reuters on average expected the USDA to lower its U.S. 2025 corn yield and production forecasts on Friday, but the crop would still be the largest on record.

  • Brazilian government crop agency Conab raised its estimate of the country's total 2024/25 corn crop to 139.67 million metric tons, from its previous estimate of 137.00 million.

  • CBOT December corn CZ25 last traded steady at $4.17 per bushel.

SOYBEANS - Up 5 to 7 cents per bushel

  • CBOT soybean Sv1 futures were higher in early moves on bargain buying after Wednesday's one-week low and as traders adjusted positions ahead of Friday's monthly USDA reports. Analysts surveyed by Reuters on average expect the agency on Friday to lower its U.S. 2025 soybean yield and production forecasts.

  • The USDA reported export sales of U.S. 2025/26 soybeans in the week to September 4 at 541,100 metric tons, toward the low end of trade expectations, with 767,000 tons carried over from the 2024/25 marketing year. EXP/SOY

  • Brazilian government crop agency Conab raised its estimate of the country's 2024/25 soybean harvest to a record 171.47 million metric tons, from its previous estimate of 169.65 million.

  • Conab also revised soy area and yields for all seasons between 2020/21 and 2024/25.

  • CBOT November soybeans SX25 were last up 6-1/2 cents at $10.31-3/4 per bushel.

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