NOTE: The US Department of Agriculture's weekly grain inspections and crop progress reports are delayed until Tuesday due to Monday's Columbus Day holiday, although CBOT grain markets trade on a normal schedule.
Trade awaits the USDA's monthly supply/demand reports on Thursday.
WHEAT - Down 1 to 2 cents per bushel
Lower on technical selling and a lack of fresh supportive news. Beneficial rains in the US Midwest and Plains winter wheat belts add to bearish sentiment.
Analysts expect the USDA in its monthly supply/demand reports on Thursday to raise its forecast of US 2017/18 wheat ending stocks.
CBOT December soft red winter wheat last traded down 2-1/4 cents at $4.41-1/4 per bushel, K.C. December hard red winter wheat was last down 2 cents at $4.34-3/4 while MGEX December spring wheat was down 3-1/2 cents at $6.20-1/4.
CORN - Steady to down 1 cent per bushel
Flat to weaker, with an early retreat in soybeans lending pressure. Market underpinned by a slowdown in US harvest progress due to rain in some areas, but plentiful supplies and rising US crop estimates keep a lid on rallies.
Analysts expect the USDA in its monthly supply/demand reports on Thursday to raise its US corn yield estimate but trim its forecast of US 2017/18 corn ending stocks.
CBOT December corn last traded unchanged at $3.50 per bushel.
SOYBEANS - Down 1 to 2 cents per bushel
Turned lower on technical selling, retreating from early strength after the November contract failed to push through chart resistance at its 200-day moving average. Market underpinned by wetter pattern in the US Midwest this week that should slow harvest progress.
Analysts expect the USDA in its monthly supply/demand reports on Thursday to raise its US soybean yield estimate but lower its forecast of US 2017/18 soybean ending stocks.
CME Group reported 66 soymeal deliveries and 57 soyoil deliveries against CBOT October futures.
CBOT November soybeans last traded down 1-3/4 cents at $9.70-1/2 a bushel.