CBOT grains close lower across the board; markets eye Trump-Xi meeting, hope for Chinese purchases of US farm goods

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3▲0 ▼2Impact / 5
Summary · why it matters

Grain and oilseed futures at the CBOT closed lower across the board on Tuesday, September 22, led by December corn, which fell 6.25 cents, or 1.15%, to settle at $5.3675 a bushel, and December wheat, which dropped 9.50 cents, or 1.31%, to settle at $7.1725 a bushel. November soybeans fell 2.50 cents, or 0.19%, to settle at $13.2550 a bushel, after a strong rally on Monday amid hopes for a farm trade deal ahead of Thursday's September 24 meeting between President Donald Trump and President Xi Jinping. Traders are watching whether China, the world's largest soybean importer, will step up purchases and lift its 10% tariff on US soybeans. Sinograin, the grain reserve arm of China's state government, announced a second auction of imported soybeans from state reserves in September to free up storage space for expected US soybean arrivals. US farmers are harvesting soybeans and corn, keeping an eye on weather forecasts over concerns that rain could delay the harvest. Wheat was pressured by diplomatic efforts to ease the Russia-Ukraine conflict, which affects grain exports through the Black Sea route. President Donald Trump and President Volodymyr Zelenskyy are scheduled to discuss the issue at the United Nations General Assembly on Tuesday, as attacks on ports and shipping vessels continue.

Impact on assets 3

Others▼ · 3 stocks
⛏Corn Futures
CORN
▼ NegativeDemandrelevance

December corn fell 6.25 cents as markets await the Trump-Xi meeting and hoped-for Chinese purchases of US farm goods, with harvest weather adding pressure.

⛏Soybean Futures
SOYBEAN
± MixedDemandrelevance

November soybeans slipped 2.50 cents after Monday's rally on hopes China will lift its 10% tariff and step up purchases; Sinograin's reserve auction frees storage for expected US arrivals.

⛏Chicago SRW Wheat Futures
WHEAT
▼ NegativeGeopoliticsrelevance

December wheat dropped 9.50 cents, pressured by diplomatic efforts to ease the Russia-Ukraine conflict affecting Black Sea grain exports.

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