Wheat futures remained under pressure on Thursday, while corn and soybeans fell for the fourth straight day.
US dollar strength weighed on wheat once again, with the rising greenback expected to chill foreign export demand by making American supplies more expensive for buyers holding other currencies. Weather also helped to undermine wheat, with rain improving the condition of the 2025 US winter wheat crop and much-needed drier weather speeding delayed planting in western Europe. The USDA’s weekly export sales report has been delayed to Friday. December Chicago wheat dropped 10 ¾ cents to $5.30 ¼, December Kansas City lost 7 ¾ cents to $5.33, and December Minneapolis fell 4 ½ cents to $5.66 ½.
Soybeans sustained heavy losses amid lingering worry over incoming US president Donald Trump’s appointment of Lee Zeldin to head up the Environmental Protection Agency. Zeldin is reportedly a biofuel opponent. Demand fears in the event of another Trump-led trade war with China under also pressured, as did generally good conditions for crops in South America. January beans plummeted 20 ¼ cents to $9.87 ½, and march dropped 19 ¼ cents to $9.99 ¼.
The strong dollar and chart selling helped to send corn to losses. December closed 7 ½ cents lower at $4.19 and March dipped 6 ¾ cents to $4.30 ¾.
