GRAINS-Chicago soybeans extend losses on favourable weather, weak demand
BEIJING/PARIS, July 30 (Reuters) - Chicago soybean futures fell for the fourth consecutive session on Wednesday, weighed down by favourable weather across the U.S. Midwest and sluggish demand, while wheat pared losses after news Bangladesh had made a large U.S. wheat purchase.
The most-active soybean contract on the Chicago Board of Trade (CBOT) Sv1 was down 0.05% to $10.09 per bushel at 0338 GMT. Corn Cv1 was down 0.18% to $4.10 a bushel.
Forecasts for cooler temperatures and periodic rainfall in the U.S. Midwest bolstered expectations for a big U.S. harvest, pressuring corn and soybean futures.
Northern Hemisphere harvests and weak global demand kept wheat prices under pressure.
In top soy buyer China, demand for soybeans is expected to remain subdued during the peak U.S. marketing season later this year. Record imports earlier in 2025 and soft demand from animal feed producers have led to a buildup in domestic soymeal inventories.
Wheat Wv1 was down 0.1% at $5.29.1/4 a bushel after falling as low as $5.26 in earlier trade.
Bangladesh's government has approved the purchase of about 220,000 metric tons of wheat from the United States as part of efforts to cool trade tensions with Washington and reduce steep import tariffs imposed by the Trump administration, a Dhaka official said on Wednesday.
Also on the trade front, U.S. and Chinese officials agreed to seek an extension to their 90-day tariff truce following two days of talks in Stockholm aimed at defusing a trade war between the world's two biggest economies.
"The uncertainties over a U.S.-China trade deal, with the market not expecting a resolution any time soon for Chinese crushers to resume buying farm products, suggest that soybean arrivals to China will likely fall steeply in Q4 2025 and Q1 2026," said Cheang Kang Wei, vice president at StoneX in Singapore.
Commodity funds were net sellers of CBOT corn, wheat, soymeal and soybean futures contracts on Tuesday and net buyers of soyoil futures, traders said. COMFUND/CBT
Prices at 1127 GMT | |||
Last | Change | Pct Move | |
CBOT wheat Wv1 | 529.25 | -0.50 | -0.09 |
CBOT corn Cv1 | 411.25 | 0.25 | 0.06 |
CBOT soy Sv1 | 1009.25 | -0.25 | -0.02 |
Paris wheat BL2Z4 | 197.25 | 0.50 | 0.25 |
Paris maize BOc1 | 57.15 | -0.39 | -0.68 |
Paris rapeseed COMc1 | 458.00 | -5.25 | -1.13 |
Euro/dlr EUR= | 1.15 | 0.00 | -0.11 |
Most active contracts - Wheat, corn and soy US cents/bushel, Paris futures in euros per tonne | |||
