Chicago Futures Market Sees Declines in Wheat, Corn, Soybeans

The Chicago futures market saw declines in wheat, corn, and soybeans on Tuesday, September 22. December wheat dropped by 1.31% to $263.54/t, while December corn fell by 1.24% to $211.12/t. November soybeans slipped by 0.19% to $487.03/t.

The US winter wheat planting pace remains a concern, with only 17% of the area planted as of September 20, which is four percentage points behind the five-year average. The improving crop conditions in the US, however, may have contributed to the decline in corn prices, despite expectations that China could purchase US grain.

Argentina's 2026/27 corn and soybean production forecasts also had a modest impact on futures prices. Argentina's corn crop is forecast at 66 million tons, while its soybean production is expected to reach 53.6 million tons.