Chicago soybeans and corn steady on favourable weather; wheat edges higher
Corn futures were unchanged at $4.12-1/4 per bushel, pressured by favourable Midwest weather that is boosting expectations of a strong U.S. harvest. Harvesting has already begun on the far southern fringes of the crop belt, including Texas and Louisiana, weekly U.S. data showed. Wheat gained 0.1% to $5.24-1/2 a bushel after rising for two consecutive session, supported by concern over the European harvest. Ukraine's 2025 grain harvest, however, is likely to fall to between 51 million and 52 million metric tons, from about 55 million tons in 2024, mostly owing to poor weather, the deputy head of Ukraine's largest farm union said on Thursday.
UAC's Denys Marchuk said the harvest could include 21 million tons of wheat, down from 22 million tons harvested in 2024. Meanwhile the European Commission trimmed its forecast for usable production of both soft wheat and maize (corn) in the European Union in 2025/26. Traders are awaiting weekly U.S. grain and soybean export sales data from the U.S. Department of Agriculture later on Thursday.
The agency is also expected to raise its U.S. corn yield estimate in a monthly crop report due on August 12. Prices at 1040 GMT Last Change Pct Move CBOT wheat 524.50 0.75 0.14 CBOT corn 412.25 0.00 0.00 CBOT soy 995.25 -0.50 -0.05 Paris wheat 199.00 0.75 0.38 Paris maize 56.35 -0.15 -0.27 Paris rapeseed 465.00 0.00 0.00 Euro/dlr 1.14 0.00 0.18 Most active contracts - Wheat, corn and soy US cents/bushel, Paris futures in euros per tonne.
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