Soybeans flat as US harvest weighs, corn and wheat firm
CBOT soybeans are steady as US harvest pressure offsets Chinese demand, while corn and wheat edge higher and Argentina lifts its wheat forecast.
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what happened
According to Reuters, Chicago soybeans were little changed on Thursday at about $12.45 1/4 a bushel as of 0109 GMT. Harvest pressure in the US offset renewed Chinese buying, which the US Department of Agriculture confirmed. Corn rose 0.38% to $4.65 a bushel, while wheat added 0.12% to $6.29, recovering from a more than three-month low in the previous session.
Wheat found support from hopes that diplomatic efforts could de-escalate the Russia-Ukraine war and revive grain shipments through the Black Sea. Those expectations followed talks between Russian President Vladimir Putin and US envoy Steve Witkoff, and Witkoff's meeting with Ukrainian President Volodymyr Zelenskiy in Norway.
why it matters
Two factors matter for grain markets: dry weather across the Midwest that speeds up harvesting of a large corn and soybean crop, and diplomacy around Black Sea shipping. The Rosario Stock Exchange raised its forecast for Argentina's 2026/27 wheat harvest to 23.8 million metric tons from 21 million a month earlier, citing higher-than-expected yields. Commodity funds were net sellers of CBOT wheat and soyoil on Wednesday, according to traders.
market impact
Grains: harvest pressure weighs on soybeans and corn, while Black Sea diplomacy supports wheat.
tags
instruments
sources
- Soybeans flat as US harvest pressure weighs; corn firms — Reuters, 22 October 2026 at 01:33 UTC
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