Corn futures gained on Monday, while both wheat and soybeans ended the day lower.
Reports attributed the strength in corn to short covering and bargain buying amid extended downward pressure from good weather and crop development conditions in the American Midwest. The USDA maintained its 2025 average US corn yield estimate at 181 bu/acre in Friday's supply-demand update, but many traders and analysts are expecting it to be eventually revised higher. Generally favourable Midwest weather conditions are expected for the next couple of weeks. September corn gained 4 cents to $4.18, and December was up 5 ¾ cents at $4.18.
Soybeans remained under pressure from rising US production potential, with the market dipping below the $10/bu benchmark during the day. August beans were down 3 ¼ cents and November eased a ¼ cent to $10.07.
Wheat was lower on continued seasonal harvest pressure. September Chicago wheat dropped 3 ½ cents to $5.41 ½, September Kansas Kansas City was down 1 ¼ cents at $5.23, and September Chicago spring wheat fell 9 ¾ cents to $5.87.
