Corn, wheat, and soybean futures all ended higher on Thursday, boosted by good export demand.
Wheat saw the strongest gains on the day, as today’s weekly USDA export sales report showed bookings of US wheat for the week ended July 31 at 737,831 tonnes. That was a marketing year high and topped the range of pre-report trade expectations. Consultancy SovEcon’s downgrade of its Russia wheat production estimate also bolstered the wheat market, as did a weaker American dollar. September Chicago wheat gained 9 ¾ cents to $5.18 ¼, and September Kansas City was up a dime at $5.21 ½. September Hard Red Spring and September Minneapolis both added a nickel to $5.13 and $5.74.
Corn was higher after the USDA reported two separate private export sales of 106,680 tonnes to Mexico and 105,000 to Guatemala, both for 2025-26 shipment. Weekly export sales were mixed for corn. Old-crop sales of 170,428 tonnes for the week ended July 31 were below expectations, but new-crop sales exceeded expectations at 3.16 million. September corn was 4 ¾ cents higher at $3.84 ½, and December was up 5 ¾ cents at $4.07.
Weekly export sales for soybeans topped trade guesses for both old and new crop. Old-crop sales came in at 467,842 tonnes, and new crop at 545,010 – a new marketing year high. September beans were 8 ½ cents higher at $9.74, and November climbed 9 ¼ cents to $9.93 ¾.
