Chicago grains stay weak as supply pressure hangs over market

Chicago soybean, corn and wheat futures edged lower on Wednesday, with corn setting another 2025 low, as a ceasefire between Iran and Israel put the focus back on ample expected supply in the United States and worldwide. Losses were more modest than a day earlier as crude oil steadied and investors awaited comments from the U.S. Federal Reserve’s chief later on Wednesday. Grain traders are also turning their attention towards U.S. grain stocks and planting data due on Monday that are among the most closely tracked estimates in the market. The most-active corn contract on the Chicago Board of Trade was down 0.8% at $4.12-3/4 a bushel. It earlier fell to its lowest since Nov. 1 at $4.12-1/2, marking the latest in a series of 2025 lows for corn this month. CBOT soybeans were down 0.3% at $10.31-1/2 per bushel to fall for a fourth session. CBOT wheat eased 0.5% to $5.49-1/2 a bushel to drop for a third day. “For corn and soybeans, current weather conditions across the U.S. Corn Belt ...