Grain futures fall as favourable US crop weather weighs - CBOT
Ample global supplies dampen demand for US corn and soybeans
2 June 2026
1 minute read
By: Chicago grain and oilseed futures fell on Tuesday, as beneficial US crop weather boosted yield prospects and ample global supplies weighed on demand for US shipments, reported Reuters.
The most-active corn contract on the Chicago Board of Trade (CBOT) dropped 0.6% to $4.41-1/4 a bushel by 0140 GMT. Soybeans fell 0.3% to $11.77 a bushel, while wheat lost 0.7% to $6.04-1/5 a bushel.
Crop-friendly weather in the US Midwest has pressured the market despite the US Department of Agriculture's report on Monday that corn and soybean crops were in slightly worse shape than last year.
The USDA said 67% of corn was in good-to-excellent condition, as of Sunday, down from 69% a year earlier. Soybeans were rated 66% good-to-excellent, compared with 67% a year earlier, the agency said.
Farmers had finished planting 93% of the corn crop and 87% of soybeans, as of Sunday, ahead of the five-year averages of 92% for corn and 80% for soybeans, the agency said.
In Ukraine, a major crop exporter, the combined grain and oilseed harvest is likely to rise to 83.6 million metric tons from 80 million tons in 2025 and its exportable surplus could total 50.8 million tons, Ukrainian grain traders union UGA said on Monday.
Farmers in Brazil's centre-south region had harvested 2.4% of their 2026 second corn crop, as of last Thursday, agribusiness consultancy AgRural said on Monday, up from 0.9% in the previous week and above the 1.3% reported a year earlier.
