Grains Markets Tumble Amid Wet Forecast, Wheat Prices Rise Due to Black Sea Disruptions

The grains and livestock futures markets have experienced mixed results on August 5th. December corn is down 2.5 cents per bushel, while November soybeans are down 6.75 cents. In contrast, September KC wheat has increased by 12.5 cents, with September Chicago wheat up 12 cents and September MIAX wheat rising by 6.75 cents.

The Dow Jones Industrial Average is also higher, increasing by 435.61 points. However, the U.S. Dollar Index has decreased by 0.160 and September crude oil is down $0.08 per barrel. On the other hand, December gold is up $107.30 per ounce.

Private exporters have reported sales of 120,000 metric tons (4.7 million bushels) of corn to Mexico, with 30,000 metric tons (1.2 million bushels) allocated for the 2026/2027 crop year and 90,000 metric tons (3.5 million bushels) for the 2027/2028 crop year.

Corn and soybeans are under pressure due to a wet forecast through mid-August. Wheat prices, however, have increased as Russia's reciprocal attacks against Ukraine continue to hinder Black Sea exports.