Global Grain Futures Decline Amid Lower Crude Oil Prices
Global futures for wheat, corn, and soybeans declined on August 4 amid lower crude oil prices, profit-taking by investors, and favorable U.S. crop prospects.
The September CBOT soft red winter wheat contract fell 1.92% to $234.60/ton, while hard red winter wheat futures in Kansas City dropped to $259.77/ton and spring wheat futures in Minneapolis fell to $251.51/ton.
Corn futures also ended the session lower, with the September CBOT contract falling 1.56% to $174.11/ton, despite market fundamentals remaining supportive. U.S. June corn exports reached a record 7.926 mln tons for the month, and StoneX projected the 2026 U.S. corn yield at 184.8 bushels per acre.
Soybean futures declined amid weaker energy markets and forecasts for wetter weather across the U.S. Midwest. November soybean futures lost 1.22%, closing at $432.74/ton, despite the U.S. Department of Agriculture reporting another sale of 132 thsd tons of new-crop soybeans to China.