Chicago Grain Markets Tumble on NASS Data Release

Wednesday's trading session in Chicago saw wheat, corn, and soybean futures decline on the CBOT. The main driver behind this drop was the release of quarterly NASS grain stocks data in the United States.

Corn suffered the sharpest decline, with its December contract plummeting 4.07% to $197.15/t. This comes as U.S. corn inventories as of September 1 were estimated at 2.095 bln bushels, exceeding traders' expectations by 184 mln bushels.

Wheat futures also fell, with December SRW wheat declining by 17 cents to $6.75¾/bu, or $248.29/t. Despite this drop, U.S. wheat stocks as of September 1 came in at 1.846 bln bushels, down 288 mln bushels from a year earlier.

Soybean futures also ended lower, with the November contract falling to $12.93/bu, or about $475.09/t. U.S. soybean stocks at the end of the 2025/26 MY totaled 315 mln bushels, down 10 mln bushels year-on-year and below analysts' forecasts.