Chicago Wheat and Corn Prices Hit One-Month Lows Amid Weak Demand

Chicago wheat and corn prices hit one-month lows on September 25, as futures declined in trading. Wheat lost up to 2.5% of its value, while corn fell by as much as 1.8%. Soybean futures also dropped, decreasing by a maximum of 1%, marking the fourth consecutive session of decline since June.

The soybean complex weakness has spilled over into vegetable oils, with palm oil futures in Kuala Lumpur falling by up to 2.2% following US soyoil price declines.

Chinese purchases of US soybeans continue to progress, with state buyers having completed more than half of the annual 25 million ton target for the product. However, other agricultural products are being bought at a slower pace.