US grain futures climb on USDA data as milk prices hold steady

The United States Department of Agriculture's latest supply‑and‑demand report lifted grain futures on the Chicago Board of Trade. Soybean contracts for August delivery rose 1.09% to $11.90 per bushel, corn prices also rose, and wheat contracts for September delivery jumped 3.15% to $6.39 per bushel after the USDA projected higher global soy production and demand while trimming its wheat outlook slightly.

Separately, StoneX analysts warned that milk prices are unlikely to fall sharply through the third quarter of 2026 despite a rise in production. Robust demand for protein, climate‑related risks and elevated European butter stocks, together with cautious importers, are expected to keep prices near their break‑even points in Brazil, the United States, the EU, the UK and New Zealand.