Chicago Grain Markets Mixed on September 3
Wheat and corn futures declined in Chicago on September 3, while soybeans ended the session higher. December wheat futures fell 2.55% to $277.13 per ton, while corn lost 0.51% to $212.89 per ton.
The decline in wheat prices came after a strong rally, and market participants viewed statements about a potential peace settlement between Russia and Ukraine as reducing risks to Black Sea supplies. US wheat export sales totaled 313,500 tons in the week ended August 27, with Mexico and the Philippines among the largest buyers.
Corn also finished lower despite strong demand for the new US crop. Export sales of 2026/27 corn reached nearly 1.99 million tons for the week, including 665,000 tons purchased by Mexico and 371,800 tons by Japan. Allendale estimates the US corn yield at 178.7 bushels per acre, below the USDA forecast of 180.7 bushels per acre.
Soybeans showed positive price dynamics, supported by strong new-crop demand. The USDA reported a separate sale of 192,000 tons of soybeans to China. Total export sales of 2026/27 soybeans reached 1.95 million tons for the week, with China booking 972,000 tons and another 669,000 tons sold to unknown destinations.