PARIS/BEIJING: Chicago corn, wheat and soybean futures fell to fresh two-month lows on Wednesday as an advancing US harvest and renewed diplomatic efforts to end Russia’s war with Ukraine weighed on prices.
Supply pressure encouraged investment funds to liquidate long positions built up in recent months when grain markets rallied to multi-year highs with support from war disruption to commodity trade in the Middle East and the Black Sea.
The most-traded soybean contract on the Chicago Board of Trade (CBOT) was down 0.3 percent at USD12.45 a bushel by 1109 GMT, after earlier reaching its lowest since August 26.
CBOT corn eased 0.6 percent to USD4.59-1/4 a bushel while CBOT wheat fell 0.9 percent to USD6.37-1/4 a bushel. Both cereals earlier struck their lowest since mid-August.
Dry weather forecast across the Midwest this week is expected to let US farmers accelerate harvesting of what the government projects to be bumper corn and soybean crops. Showers last week left harvest progress below market expectations.
Copyright Business Recorder, 2026