Corn, wheat, and soybean futures all finished lower on Wednesday, with profit taking helping to pressure.
Corn, which had reached a 16-month high, was also undermined by late March liquidation and ideas that early 2025-26 acreage and supply-demand estimates released at next week’s USDA Agricultural Outlook Forum will be bearish for corn. March fell 4 ½ cents to $4.97 ½, and December was down a penny at $4.76 ½.
The losses in corn helped to drag soybeans lower as well. March beans were down 6 ¾ cents to $10.31 ¾, and November dropped 6 ¾ cents to $10.51 ¼.
A lack of fresh export demand and ideas that a truce could be coming in the Ukraine-Russia war further pressured wheat. March Chicago fell 12 ¾ cents to $5.92, March Kansas City lost 13 ½ cents to $6.13 ¾, and March Minneapolis was down 7 ½ cents at $6.33 ½.
