Chicago grain futures closed higher Monday as wet weather slowed harvest activity across parts of the Midwest and encouraged renewed buying in corn and soybeans. December corn climbed toward $5.43 per bushel, while November soybeans advanced to roughly $13.28. Heavy rainfall from Iowa and Minnesota into the eastern Corn Belt raised concerns about near-term harvest access, while expectations ahead of this week’s U.S.-China meeting added another layer of support.
Wheat also strengthened as concerns around Black Sea shipping and slower Russian exports returned risk premium to the market. December Chicago wheat finished near $7.27 per bushel, with Kansas City and Minneapolis contracts also firmer. Attention now turns to harvest progress, winter wheat planting conditions and whether Thursday’s U.S.-China talks produce any concrete developments for agricultural trade.
