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CBOT corn and soybeans slip ahead of USDA crop forecast
Traders were repositioning before Wednesday’s USDA supply-and-demand report, with analysts surveyed by Reuters expecting the agency to cut 2026 U.S. corn yield to 182.4 bushels per acre from 183.0.
Chicago Board of Trade corn and soybeans fell on Tuesday as traders adjusted positions ahead of the widely watched U.S. government crop forecasts due Wednesday, according to Reuters. Wheat also edged lower, with prices pressured by the market already factoring in disruptions to Black Sea exports and reports of progress in talks to restore shipping through the Strait of Hormuz. Earlier gains were tied to signs that attacks by Ukraine and Russia on each other’s shipping routes were reducing export flows. CBOT’s most active wheat contract settled 10-1/4 cents lower at $6.30-1/4 per bushel, while CBOT soybeans ended down 10-1/4 cents at $11.68-3/4 per bushel and corn finished 1-1/4 cents lower at $4.60-1/2 per bushel. Reuters reported that falling prices in Russia, slow international demand, and efforts by Kyiv and Moscow to use alternative logistics routes helped temper the reaction to Black Sea tensions. Grain traders turned attention to the USDA’s August supply-and-demand report, which is expected to include revisions to the outlook for the 2026 U.S. corn and 2025-26 and 2026-27 soybean harvests. Ahead of the monthly update, Reuters said analysts on average expected the USDA to lower its estimate of the 2026 corn yield to 182.4 bushels per acre from 183.0, and to trim forecast soybean ending stocks, after Monday’s soybean condition rating was reduced while the corn score was kept steady. The report also comes after rain and milder temperatures supported both crops, following July heat and dryness.
Latest closeWheat $639.50 ▼0.0%|Corn $462.00 ▲5.2%|Soybeans $1,180.25 ▲2.0%