Wheat and soybean futures managed modest gains on Wednesday, while corn eased lower.
Soybeans finished slightly higher, as early support came from technical buying and optimism ahead of next week’s planned U.S.-China talks. However, gains faded as the session progressed amid weakness in crude oil and position-squaring ahead of the Fed interest rate announcement. NOPA data released yesterday showed the August U.S. soybean crush at 205.46 million bu, up from last year but well below trade expectations. November gained 1 ¾ cents to $13.20 ½, and March was 2 ¼ cents higher at $13.45 ¼.
Wheat also ended on the positive side after a late-session rebound. Buyer interest strengthened late in the day after earlier profit-taking, while ongoing Black Sea risk and solid international demand continued to underpin the market. Today’s Statistics Canada crop production report pegged 2026 Canadian all wheat output at 36.122 million tonnes, down almost 11% on the year. December Chicago wheat gained 2 ¼ cents to $7.30 ¾, and Kansas City added 3 ¼ cents to $7.99 ½. December Hard Red Spring added 4 cents to $7.69, and December Minneapolis climbed 7 ½ cents to $7.58.
Corn was the laggard as profit-taking and weak long liquidation outweighed some support from persistent rain and localized flooding in Iowa that could slow harvest activity. December and March corn each lost 1 ½ cents to settle at $5.34 ¼, and $5.48 ¾.
