Corn futures finished modestly higher, soybeans lower and wheat mixed following a mostly non-event USDA WASDE report on Thursday.
Corn traded to both sides of unchanged during the day but eventually settled with gains amid a weaker American dollar. The WASDE report was relatively supportive for corn, with both old- and new-crop US corn ending stocks lowered from last month, due to a 50- million bu increase in the 2024-25 export forecast. July corn gained 1 ½ cents to $4.38 ½, and December was up ¾ of a cent to $4.40 ½.
Soybeans fell to a one-week low on weakness in soybean oil and cash market softness. As for the WASDE report, the USDA made no changes this month to its old- and new-crop US soybean supply-demand estimates, although global ending stocks were raised. July beans dropped 8 ¼ cents to $10.42 ¼, and November was down 2 cents at $10.27 ¼.
As for wheat, the USDA raised its 2025-26 US all wheat production estimate slightly from last month, but ending stocks were still revised lower amid a 25-million bu increase in the export forecast. The lower US dollar did offer some support. July Chicago lost 7 ¾ cents to $5.26 ½, July Kansas City eased 3 ½ cents to $5.22 ¾, and July Minneapolis managed a 3 ½-cent gain to $6.20 ¾.
