US Grain and Oilseed Market Sees CBOT Futures Ease Off
The US grain and oilseed market saw CBOT futures ease off on Thursday, according to the latest update from Canadian Cattlemen. Despite this, December contracts for hard red winter wheat stayed rangebound.
A key report from the United States Department of Agriculture showed that 325,900 tonnes of 2026-27 wheat were sold for export during the week ended September 10, up 68% from the previous week but unchanged from the four-week average. This figure was in line with trade expectations.
The USDA also reported that hard red winter wheat growing areas will see rain over the next week, while there is a chance of rain in western and central Kansas today.
In the soybean market, prices were neutral and continued to trade rangebound. Export sales of new crop US soybeans totalled 1.702 million tonnes last week, in line with trade expectations. Of this total, 875,300 tonnes were going to China and 218,900 more were earmarked for unknown destinations.
The corn market saw a decline, but the December contract stayed within $5.25 to $5.40 per bushel for the fourth-straight session. The USDA reported that 1.027 million tonnes of corn were sold for export last week, near the lower end of trade expectations.