Chicago Wheat, Corn, Soybean Futures Decline on Weak Sales and Weather Expectations

The Chicago Board of Trade saw declines in wheat, corn, and soybean futures on September 24. December wheat futures fell by 0.21% to $259.77 per ton, while corn declined by 0.28% to $207.68 per ton. November soybean futures slipped by 0.04% to $484.09 per ton.

The decline in wheat prices was attributed to weaker-than-expected US export sales. In the week ending September 17, US wheat sales totaled 267.6 thousand tons, with Mexico, Japan, and Vietnam being the main buyers. Meanwhile, expected rainfall across US grain-growing regions could improve soil moisture but slow planting.

Corn futures also declined due to moderate demand and expectations of wetter weather in the central US. Weekly US corn export sales reached 838.3 thousand tons, with Japan, Mexico, and Colombia accounting for the largest purchases.