Chicago corn futures managed small gains on Thursday, rebounding modestly after the previous session’s sharp USDA-driven selloff.
Wheat also moved higher while soybeans finished weaker.
Corn found some support from bargain buying after futures plunged more than 20 cents Wednesday following the USDA’s unexpectedly large Sept. 1 stocks estimate of nearly 2.1 billion bu. Attention also remains on the size of the 2026 crop, with harvest results and possible yield reductions still ahead. December was up 1 ½ cents at $5.02 ¼, and March added 1 ¼ cents to $5.16 ¾.
Wheat futures strengthened as concerns about Black Sea grain availability provided support. Russian consultancy Sovecon lowered its 2026-27 Russian grain export forecast and warned that disruptions at Azov and Black Sea ports could persist. December Chicago gained 7 cents to $6.82 ¾, and December Kansas City was 4 ½ cents higher at $7.37 ½. December Hard Red Spring added 4 ¼ cents to $7.20 ¼, and December Minneapolis gained 3 ½ cents to $6.96 ¾.
Soybeans moved the other direction, pressured by fund liquidation and lingering disappointment over U.S.-China trade developments. Soybean futures also faced pressure amid the advancing U.S. harvest and incoming supplies. November lost 9 cents to $12.84, and March was down 7 ¾ cents at $13.10 ¾.
