Chicago Close: Grains Mixed as Crude Climbs, Eyes on Weather

Jul 02, 2025

Grain futures were mixed on Tuesday, with soybeans ending narrowly higher and corn easing amid varied positioning ahead of key USDA reports and ongoing weather assessments. Wheat rallied sharply on short covering and export optimism.

Crude oil extended gains, supported by stronger refinery demand and signs of tightening U.S. inventories. The energy strength offered mild support to grain markets, though favourable weather forecasts for the Midwest capped corn's upside. Scattered showers and seasonal temperatures are expected across much of the Corn Belt, sustaining solid crop development into July.

September corn slipped 3 1/4 cents to $4.06, and December fell 3 1/2 cents to $4.22.

August soybeans were unchanged at $10.29 3/4, while November inched up 1/4 cent to $10.27 1/4.

Wheat futures posted solid gains, buoyed by renewed export chatter and speculative buying. September Chicago wheat climbed 10 3/4 cents to $5.49, Kansas City gained 4 1/2 cents to $5.31 1/4, and Minneapolis held steady at $6.25.

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