3 weeks ago
Chicago grain futures weaken ahead of USDA crop report
Farmers grow corn, soybeans, and wheat, and their prices change every day on big food markets.
On Tuesday, prices for these grains fell in Chicago.
That's because traders were getting ready for a big report from the U.S. Department of Agriculture on Wednesday.
The report will say how much corn and soybeans farmers are expected to grow this year.
Traders think the report will show slightly less corn per field, but they already had a pretty good idea of that.
There has also been rain and cooler weather for the crops, which helps plants grow.
Good weather usually means more food, and more food means lower prices.
Wheat prices also dropped even though some ships in the Black Sea had been having trouble, because people think the shipping problems won't last forever.
Overall, the market went down because traders didn't have exciting new news to push prices up.
Lower grain prices can be good for people who buy food.
Chicago Board of Trade corn and soybean futures fell Tuesday as traders adjusted positions ahead of the USDA's August report.
Wheat settled 10-1/4 cents lower at $6.30-1/4 per bushel after earlier gains tied to Black Sea shipping disruptions.
Corn fell 1-1/4 cents to $4.60-1/2 per bushel, while soybeans fell 10-1/4 cents to $11.68-3/4 per bushel.
Analysts expect the USDA to lower its 2026 U.S. corn yield estimate to 182.4 bushels per acre from 183.0.
Rain and milder temperatures aided crops after July heat, while progress in Strait of Hormuz talks also weighed on wheat.
- Who
- Traders on the Chicago Board of Trade and analysts surveyed by Reuters, along with the U.S. Department of Agriculture.
- What
- Corn, soybean and wheat futures prices fell as traders repositioned ahead of the USDA's August supply-and-demand crop report.
- Where
- Chicago Board of Trade; USDA outlook covers the U.S. harvest, with wheat context from the Black Sea region.
- When
- Tuesday, August 11, 2026, ahead of the USDA report released on Wednesday.
- Why
- Positioning before the USDA crop forecasts, plus recent rain easing weather concerns and Black Sea disruptions already priced in.
Key facts
- Corn settlement
- $4.60-1/2 per bushel, down 1-1/4 cents
- Soybean settlement
- $11.68-3/4 per bushel, down 10-1/4 cents
- Wheat settlement
- $6.30-1/4 per bushel, down 10-1/4 cents
- Expected 2026 corn yield
- 182.4 bushels per acre, down from 183.0
- USDA report release
- Wednesday, August 12 - August supply-and-demand report
- Crop conditions
- Soybean rating trimmed after Monday's close; corn rating steady
- Recent weather
- Rain and milder temperatures after July heat and dryness
Quotes
Randy Place
Analyst at Hightower Report
“It's tough to keep the market strong without consistent bullish news, it's difficult to keep prices up when you have big rains coming just where producers need it.”
livemint.com






