Grains Lag Behind Crude Oil as Soybeans Gain Amid Short Covering

The grain markets failed to follow crude oil higher on August 10, 2026. December corn futures fell by a quarter cent to $4.61 3/4, trending down due to mild technical selling pressure and position evening ahead of the USDA's supply and demand report.

Soybeans, however, saw a gain of 3 1/4 cents to $11.79 1/2, near mid-range, as short covering in soybean oil pushed prices up by 129 points to 69.53 cents. Spreaders bought bean oil and sold meal today.

The wheat market saw tepid short covering and some position evening, with September SRW gaining 3/4 cent to $6.40 1/2 and September HRW falling 1/2 cent to $7.13 1/2.