CANBERRA- Chicago wheat, corn and soybean futures steadied on Monday, after disappointing US export data pushed prices of all three contracts lower at the end of last week.
Soybeans gained despite the looming prospect of a huge Brazilian harvest early next year.
The most-active corn contract on the Chicago Board of Trade (CBOT) was up 0.1 percent at $4.42-1/2 a bushel.
CBOT soybeans were up 0.4 percent at $9.92-1/2 a bushel and wheat was unchanged at $5.52-1/4 a bushel.
All three contracts fell to four-year lows earlier this year due to plentiful supply and have – with the recent exception of corn – failed to regain much ground since.
After multiple weeks of impressive volumes, US corn and soybean export sales last week were a disappointment.
Growing uncertainty over China’s import needs going into next year also weighed on grain and oilseed markets, with China’s statistics bureau saying total grain production reached a record of more than 700 million tons in 2024.
