Archive · 11 Dec 2025
Wheat steadies after USDA raises production estimates
Wheat prices are stabilizing after a recent drop.
This happened because the U.S. Department of Agriculture (USDA) said there will be more wheat available globally than people thought.
Soybean prices are going up because the USDA announced new sales to China.
Corn prices are also rising due to strong demand.
However, traders are still worried about possible disruptions in shipping, especially in the Black Sea, which could affect prices.
The USDA also reported that China has bought less soybeans from the U.S. than expected, and Brazil's upcoming soybean harvest might be affected by heavy rain.
U.S. wheat futures steadied after a nearly 1% drop following the USDA's raised production estimates.
Soybean futures gained for a second day due to confirmed sales to China and other destinations.
Corn prices edged higher amid strong U.S. export demand.
The USDA increased its global wheat production forecasts for major exporters and raised ending stocks estimate by 3.4 million metric tons.
Traders remain cautious about potential disruptions in Black Sea shipping that could impact exports and prices.
- Who
- U.S. Department of Agriculture (USDA)
- What
- Raised global wheat production and end-of-season stocks estimates
- When
- Tuesday, December 10, 2024
- Where
- Global, with focus on major exporters like Russia, Australia, and Canada
- Why
- To reflect increased production forecasts and ample supply expectations
- Wheat Price
- $5.30-1/2 per bushel
- Soybean Price
- $10.93-3/4 per bushel
- Corn Price
- $4.44-1/2 per bushel
- USDA Global Wheat Stocks Increase
- 3.4 million metric tons
- US Soybean Sales to China
- 136,000 tons
- US Soybean Sales to Undisclosed Destinations
- 331,000 tons
- US Soymeal Sales to Poland
- 120,000 tons