Wheat and corn futures ended lower on Tuesday, while soybeans managed modest gains on good crush demand.
U.S. markets resumed trading today, after being closed on Monday in observance of Presidents Day.
NOPA data released earlier today showed a total of 221.56 million bu of U.S. soybeans were crush during January. That was down slightly from the previous month, but topped trade expectations and was about 10.5% above the same month last year. Ideas of further export demand from China continued to underpin the soybean market, while ongoing pressure from a record-large Brazilian harvest was a bearish influence. March beans inched a penny higher to $11.34, and new-crop November was 4 cents higher at $11.17 ½.
Wheat lost ground amid rising production estimates for the 2026 crop in Russia, the world’s No. 1 exporter. Pressure also continued from easing winterkill concerns for the U.S. and Black Sea crops, and the news last week that India is prepared to allow wheat exports for the first time in four years. March Chicago lost 11 cents to $5.37 ¾, falling from last week’s three-month highs, while March Kansas City was down 3 ¾ cents to $5.38 ¾. March Hard Red Spring was down 6 ¼ cents at $5.68 ¾, and March Minneapolis lost 3 ½ cents to $5.68 ¼.
Corn was down on Brazil first-crop harvest pressure and as U.S. farmers sell old-crop stocks. March corn dipped 5 ½ cents to $4.26 ¼, and December ended 4 ½ cents lower at $4.60.
