US Grain Futures See Mixed Movements on October 2

On Friday, October 2, US grain futures saw mixed movements. Chicago SRW wheat futures edged up slightly, gaining 0.04% to close at $250.96 per ton. Meanwhile, corn and soybeans both declined, with corn falling 0.90% to $195.96 per ton and soybeans dropping 0.41% to $469.85 per ton.

Wheat prices showed varying trends depending on the class. December HRW wheat futures in Kansas City fell to $270.15 per ton, while Minneapolis spring wheat rose to $256.47 per ton. The market faced pressure from weaker US export demand, with wheat export sales totaling 9.737 million tons since the start of the season, down 31% year-over-year.

Corn futures were pressured by expectations of increased US harvest activity due to favorable weather. The December contract fell 4.5 cents to $4.97¾ per bushel. However, the USDA reported a private sale of 218.6 thousand tons of US corn to Mexico. Soybeans also closed lower, with November futures down 5¾ cents at $12.78¼ per bushel. Despite this, US soybean export commitments totaled 22.236 million tons, up 89% from the same period last year.

European markets showed firmer trends. December MATIF wheat futures rose to €241.50 per ton, while November corn climbed to €269 per ton. US grain markets ended the week under pressure from harvest progress and weaker grain export indicators, while European prices posted moderate gains.