Grain rally on CBOT fades as stronger dollar weighs on prices
CBOT wheat, corn and soybeans slipped on Thursday as a firmer dollar and softer crude erased part of a rebound, according to Reuters.
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what happened
Chicago wheat, corn and soybean futures declined on Thursday, Reuters reported, as a stronger dollar made US grain pricier abroad and cooled a bounce from multi-month lows. The dollar index held near a 19-month high after touching it earlier in the session.
Corn and soybeans had gained on Tuesday after the US Department of Agriculture tightened its domestic supply estimates, and wheat followed. Lower crude also weighed on crops used for biofuel. Wheat stayed sensitive to Black Sea shipping risks, since the first direct Russia-Ukraine talks in months produced a prisoner swap but no deal on attacks on maritime trade.
At 1044 GMT, the benchmark wheat contract was down 0.6%, corn 0.2% lower and soybeans 0.3% weaker.
why it matters
The move shows how sensitive grains are to dollar and energy swings right now. A firmer currency and cheaper oil reduce the appeal of crops for exporters and biofuel buyers, while favourable harvest prospects in South America and Australia limit upside. Traders had already cut short positions, so little fresh buying is visible in the market.
market impact
Grains: a stronger dollar and weaker crude pressure CBOT corn and soybeans
- CBOT corn pressure down — a stronger dollar makes US grain more expensive for overseas buyers
- CBOT soybeans pressure down — weaker crude reduces demand for crops processed into biofuel
tags
instruments
sources
- Chicago grain rebound peters out as dollar weighs — Reuters, 12 November 2026 at 11:01 UTC
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