Chicago soybeans extend losses on favourable weather, weak demand
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 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.
Prices at 1127 GMT Last Change Pct Move CBOT wheat 529.25 -0.50 -0.09 CBOT corn 411.25 0.25 0.06 CBOT soy 1009.25 -0.25 -0.02 Paris wheat 197.25 0.50 0.25 Paris maize 57.15 -0.39 -0.68 Paris rapeseed 458.00 -5.25 -1.13 Euro/dlr 1.15 0.00 -0.11 Most active contracts - Wheat, corn and soy US cents/bushel, Paris futures in euros per tonne.
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