US Grain Futures Slip as Favorable Weather Boosts Yields and Global Supplies

Chicago grain and oilseed futures fell on Tuesday as favorable weather in the US Midwest improved crop prospects. The most‑active corn contract dropped 0.6% to $4.41 per bushel, soybeans fell 0.3% to $11.77, and wheat slipped 0.7% to $6.04.

The USDA reported that 67% of the corn crop and 66% of the soybean crop were in good‑to‑excellent condition, modestly lower than the previous year, while planting was ahead of five‑year averages (93% of corn, 87% of soybeans). Ample global supplies, including an anticipated Ukrainian grain harvest of about 83.6 million tonnes and Brazil’s second corn crop already 2.4% harvested, weighed on demand for US shipments.

Analysts noted that the combination of better‑than‑expected US yields and strong export interest from China, alongside reduced Russian wheat shipments, is shaping market expectations for US grain exports this season.