CBOT wheat eases as corn and soybeans gain in Monday grain trade
Chicago wheat futures fell on Monday 13 July 2026, giving back part of the previous session's rally, while corn and soybeans advanced. US wheat exports remain 17.32% below last year at 1.893 million tonnes, and China booked 136,000 tonnes of new-crop soybeans.
Wheat retreats after Friday's rally
Wheat futures on the Chicago Board of Trade fell on Monday, 13 July 2026, giving back part of the sharp gains recorded in the previous session. The September soft red winter (SRW) contract in Chicago settled at $6.35-1/4 per bushel, down 5 cents, while the December contract closed at $6.50-1/2, off 4 cents, according to zol.ru. On a per-tonne basis, the September SRW contract eased to $233.41, a decline of 0.78%.
Hard wheat markets fell more steeply. September hard red winter wheat at the Kansas City Board of Trade closed at $6.66-1/4 per bushel, down 10 cents, with the December contract at $6.81-1/4, down 9 cents. Hard spring wheat on the Minneapolis exchange (MGEX) was mixed: the September contract slipped a quarter-cent to $6.53-1/4, while December held unchanged at $6.74-1/4.
The US harvest is running ahead of schedule. The USDA's National Agricultural Statistics Service (NASS) reported that 67% of the winter wheat crop had been gathered by Sunday, 6 percentage points ahead of the five-year norm, while 72% of spring wheat had headed, in line with the average.
US exports lag as Black Sea competition builds
US wheat shipments remain below the prior season's pace. Federal Grain Inspection Service (FGIS) data showed exports of 373,611 tonnes in the week ending 9 July, with Mexico taking 114,945 tonnes, the Philippines 79,127 tonnes and Japan 62,220 tonnes. Cumulative 2025/26 exports reached 1.893 million tonnes, 17.32% below the same period a year earlier.
Competition from the Black Sea is intensifying. Ukraine had exported 553,000 tonnes of wheat since the start of the 2026/27 season by 10 July, well above the 140,000 tonnes shipped by the same date in 2025/26. Russia's NTB exchange index for wheat CPT Novorossiysk stood at 15,042 roubles per tonne, excluding VAT.
Corn and soybeans advance on Chinese demand
Corn futures edged higher. The September contract closed at $4.41 per bushel, up 1 1/2 cents, and December added 2 1/4 cents to $4.63-1/4, while the July contract slipped a quarter-cent to $4.37-3/4. NASS rated 68% of the US corn crop good or excellent, unchanged on the week, with 16% of plants silking, 4 points ahead of the five-year average. Export inspections totalled 1.54 million tonnes in the week to 9 July, led by Mexico at 400,015 tonnes, Japan at 300,620 tonnes and Vietnam at 204,633 tonnes, lifting the marketing-year tally to 72.21 million tonnes, up 24.85% year on year.
Soybeans gained across the board, supported by fresh Chinese demand. The USDA confirmed a private sale of 136,000 tonnes of new-crop soybeans to China. The July contract rose 5 1/2 cents to $12.02 per bushel, August added 5 cents to $11.96-3/4 and November gained 4 cents to $11.94-3/4. NASS put 65% of the crop in good-to-excellent condition, up 1 point, with 50% blooming. Weekly export inspections came to 418,592 tonnes, with Egypt buying 108,548 tonnes, Mexico 88,239 tonnes and China 65,869 tonnes; season-to-date shipments of 38.29 million tonnes are 17.6% below last year.
European markets ease
In Paris, September milling wheat on Euronext (MATIF) fell to €214.75 per tonne ($245.12), down 0.83%, with the December contract at €221.50 ($252.82). Corn moved the other way, with the August contract rising to €239.00 per tonne ($272.79), up 0.38%.
