Content ID


GRAINS-Wheat, corn fall ahead of U.S. supply-demand report; soybeans flat


U.S. supply-demand on agriculture products due at 1700 GMT


USDA see keeping U.S. corn, soybean yield estimates unchanged


Ukraine wants grain deal expanded, eyes decision next week

(Recasts with change in market direction, updates prices)

By Naveen Thukral

SINGAPORE, Nov 9 (Reuters) - Chicago wheat and corn futures slid for a third consecutive session on Wednesday on positioning ahead of widely followed U.S. government forecasts on supply and demand due later in the day.

Soybeans were largely listless after closing lower on Tuesday.

The most-active wheat contract on the Chicago Board of Trade (CBOT) was down 0.3% at $8.25-1/4 a bushel, as of 0309 GMT, and corn lost 0.4% to $6.65 a bushel. Soybeans eased quarter of a cent to $14.46-1/4 a bushel.

Traders are adjusting positions ahead of the U.S. Department of Agriculture's (USDA) monthly supply-and-demand report due at 1700 GMT.

Analysts polled by Reuters expect the agency to keep its U.S. corn and soy yield estimates unchanged, but raise its estimates for U.S. wheat, corn and soybean ending stocks.

Ukraine wants the Black Sea grain export deal expanded to include more ports and goods, and hopes a decision to extend the agreement for at least a year will be taken next week, Ukraine's deputy infrastructure minister said on Tuesday.

The deal, which eased a global food crisis by unblocking three major Ukrainian ports during Russia's invasion, expires on Nov. 19 and briefly appeared imperilled last month when Moscow suspended its participation in the deal before rejoining again.

Uncertainty about the economy and COVID-19 restrictions in China, the world's biggest soybean importer, loomed over soy futures, analysts said.

The USDA through its daily reporting system said exporters had sold 138,700 tonnes of U.S. soybeans to China; 144,000 tonnes of U.S. soybeans to Mexico; and 132,000 tonnes of U.S. soybeans to unknown destinations. Mexico also bought 338,600 tonnes of U.S. corn.

France's farm ministry on Tuesday reduced its forecast for the country's drought-affected 2022 grain maize harvest, confirming its expectation for the smallest crop since 1990.

Argentine farmers sold as of last week about 72% of the current soybean harvest, government data showed on Tuesday, a key crop especially important since it helps generate much-needed hard currency for the country's cash-strapped government.

Commodity funds were net sellers of CBOT wheat, corn, soybean and soyoil futures contracts on Tuesday, and net buyers of soymeal futures, traders said. (Reporting by Naveen Thukral; Editing by Sherry Jacob-Phillips)

© Copyright Thomson Reuters 2022. Click For Restrictions -

Read more about

Tip of the Day

1-inch impact dolly cart

Socket caddy By welding lengths of angle iron with evenly spaced upright rods onto an old two-wheel dolly, I made a cart that holds my impact wrench... read more

Talk in Marketing

Most Recent Poll

Will you have enough on-farm storage for harvest?

I just want to see the responses
46% (26 votes)
39% (22 votes)
No, it’s going to be a bin-buster
7% (4 votes)
Maybe, depending on yields
5% (3 votes)
No, I am looking at new bins or temporary storage
4% (2 votes)
Total votes: 57
Thank you for voting.