US soybean, corn and wheat futures dip as funds sell and rain forecasts lift crop outlook

Chicago soybean futures slipped 0.11% to $11.87 per bushel and corn futures fell 0.96% to $4.64 per bushel, with wheat also trading lower. The declines were driven by fund‑manager selling and by weather forecasts calling for rain in Iowa and Illinois, the two largest U.S. grain‑producing states. Anticipated better soil moisture reduced buying pressure on the contracts.

Analysts at Granar noted that the fund liquidations marked the end of July positioning, while the improved U.S. crop outlook contrasted with weaker signals from Europe, where the EU cut its 2026/27 corn production estimate. Export demand remains muted amid Black Sea port disruptions linked to Russia’s war in Ukraine. In Asia, a state‑owned Chinese grain storage firm sold a portion of its soybean holdings, and additional soybean lots are slated for auction in early August.