Chicago crop futures ended mainly weaker on Wednesday, as traders reacted to shifting global supply signals, export demand uncertainty and broader market positioning ahead of upcoming crop reports and planting season developments.
Corn futures moved lower despite news of a private export sale of 125,000 tonnes of U.S. corn to unknown destinations for the 2025-26 marketing year, which provided some fundamental support to the market. Traders said the market was weighed down by broader selling pressure across the grain complex and expectations for large global grain supplies as the Northern Hemisphere approaches spring planting. May fell 2 ¾ cents to $4.43 ¾, and December lost a penny to $4.70 ¼.
Soybean futures were slightly lower, as uncertainty about export demand and the advancing South American harvest limited buying interest. Analysts noted that the ongoing Brazilian soybean harvest — expected to be one of the largest on record — is increasing competition for U.S. exports, while demand from China remains somewhat uncertain. The May and November soybean contracts each lost 1 cent to settle at $11.69 ½, and $11.30 ½.
Wheat was pressured by expectations for abundant global supplies and improving crop prospects in some producing regions. Traders also pointed to continued competition from major exporters in the Black Sea region and Europe, which has limited the competitiveness of U.S. wheat in international markets. May Chicago and Kansas City wheat each fell 5 ¾ cents to $5.68 ¼, and $5.72 ½. May Hard Red Spring dropped 4 ½ cents to $6.01 ¼, and May Minneapolis was down 4 cents at $6.09 ¼.
Statistics Canada will release its first new-crop acreage report tomorrow, while the USDA will release its monthly supply-demand update next week.
