Grain markets continued to slide, with wheat futures posting the sharpest losses across the board. Chicago wheat contracts for September through December 2026 all closed lower, with most months down by 8 3/4 cents. September 2025 wheat finished at $5.29 3/4 USD/bu, while December 2026 closed at $6.16 3/4 USD/bu. The consistent weakness reflects ongoing bearish sentiment, with ample global supply and lack of weather-driven production threats keeping prices under pressure.
Corn futures also moved lower, though losses were more modest. The front-month September 2025 contract declined by 4 1/2 cents to settle at $3.89 1/4 USD/bu. Deferred contracts showed smaller declines, with December 2026 easing by 2 1/4 cents to close at $4.51 1/4 USD/bu. With U.S. corn conditions generally favorable and yield potential still intact, the market seems hesitant to find strong support.
Soybeans were mixed but mostly weaker. The front end of the curve saw the biggest drop, with August 2025 falling 7 cents to $9.81 3/4 USD/bu. However, November 2025 bucked the trend slightly, gaining 2 cents to finish at $10.09 1/2 USD/bu. The back months drifted narrowly lower, showing little conviction as growing season weather remains cooperative.
Overall, a lack of weather premium and trade uncertainty—particularly surrounding U.S.-China tensions—are keeping a lid on rallies across the grains complex. Markets may remain rangebound unless fresh catalysts emerge.
