Chicago Grain Markets See Wheat and Soybeans Rise as Corn Falls
Futures for wheat and soybeans rose on Wednesday, September 16, in Chicago, while corn prices fell. Wheat futures were supported by expectations of tighter supply due to lower production forecasts from Canada and reduced exports from the Black Sea region. Statistics Canada estimates that Canada's wheat production in MY 2026/27 will be down 10.9% year on year at 36.12 million tons.
Soybean futures extended gains ahead of new USDA export sales data, with analysts expecting US soybean sales for the week ending September 10 to range between 0.9 and 2.4 million tons. Canada's soybean crop is forecasted to be up 7.8% from a year earlier at 7.456 million tons.
Corn, on the other hand, came under pressure as traders expect US corn export sales for the week to range between 0.7 and 2 million tons. Canadian corn production is forecasted to increase by 11.3% year on year to 16.55 million tons.