Wheat rises on US exchanges as corn and soybeans slip before WASDE
On Thursday, 9 July 2026, wheat futures rose on all three US exchanges, with CBOT September wheat up 1.97% to $227.72 per tonne, zol.ru reported. Corn and soybeans slipped ahead of Friday's USDA WASDE report as traders positioned for lower US stock estimates. Ukraine, Argentina and the EU adjusted their 2026/27 production forecasts.
Wheat firms across all three US exchanges
Wheat futures rose on all three US exchanges on Thursday, 9 July 2026, according to zol.ru. September soft red winter wheat on the Chicago Board of Trade (CBOT) climbed to $227.72 per tonne, a gain of 1.97%. September hard red winter wheat at the Kansas City Board of Trade (KCBT) reached $240.39 per tonne, while September hard spring wheat on the Minneapolis MGEX rose to $234.79 per tonne.
In cents-per-bushel terms, July SRW in Chicago closed at $6.11-1/4, up 11¾ cents, and the September SRW contract settled at $6.19-3/4, up 12 cents. July HRW in Kansas City ended at $6.42-1/4 (+8 cents) and September HRW at $6.54-1/4 (+9 cents). July and September spring wheat on the MGEX closed at $6.03 and $6.39 respectively, each up 8¼ cents.
Export demand and tenders
USDA export-sales data for the week ending 2 July showed 313,103 tonnes of new-crop US wheat sold. South Korea took 101,000 tonnes, Nigeria 100,000 tonnes and Mexico 68,600 tonnes. Taiwan issued a tender for 98,150 tonnes of US wheat with a 15 July deadline.
Corn export bookings reached 565,810 tonnes of old-crop US corn, led by Mexico (168,900 tonnes), Japan (162,900 tonnes) and Colombia (149,800 tonnes). New-crop corn sales totalled 401,667 tonnes, with South Korea, Japan and Colombia the main buyers. Cumulative 2026/27 corn sales stand at 6.55 million tonnes, up 20.8% on the previous season. In soybeans, USDA reported a private sale of 136,000 tonnes of new-crop beans to China plus 120,000 tonnes to undisclosed destinations; new-crop soybean sales of 408,250 tonnes marked the second-largest weekly total of the marketing year, with Colombia buying 338,000 tonnes.
Corn and soybeans slip before WASDE
Corn futures eased ahead of Friday's USDA WASDE report. July corn closed at $4.27-3/4 (−7 cents), September at $4.31-1/2 (−3½ cents) and December at $4.52 (−4¼ cents). A Bloomberg analyst survey points to old-crop US corn stocks falling 66 million bushels to 2.079 billion bushels and new-crop stocks down 61 million bushels to 1.899 billion bushels.
Soybeans also declined, with the July contract at $11.79-3/4 (−15¼ cents), August at $11.77-3/4 (−15½ cents) and November at $11.81-1/2 (−10¾ cents). Traders surveyed by Bloomberg expect old-crop soybean stocks to slip 3 million bushels to 337 million bushels, while new-crop stocks rise 22 million bushels on expanded plantings.
Production forecasts and world stocks
Ahead of Friday's crop report, the Bloomberg survey put total US wheat output at 1.527 billion bushels, 17 million below the June estimate, with winter wheat at 1.004 billion bushels and spring wheat at 458 million bushels. Ukraine lifted its 2026/27 wheat forecast by 1 million tonnes to 23 million tonnes, and the Rosario grain exchange raised Argentina's crop by 0.5 million tonnes to 20.5 million tonnes. Expana cut the EU wheat forecast by 0.9 million tonnes to 128.3 million tonnes. Global wheat stocks are projected to fall 2.2 million tonnes to 273.2 million tonnes.
On the Paris MATIF, September milling wheat edged up to €205.00 per tonne ($234.03) and December to €213.75 ($244.02). The Russian wheat export index NTB CPT Novorossiysk was quoted at 15,422 roubles per tonne (excluding VAT).
