Chicago soybean futures fell on Wednesday, weighed down by strong pod counts in some fields that point to solid yield potential, along with lingering concerns over weak demand from China.
Wheat dipped on ample global supply, while corn held steady.
FUNDAMENTALS
* The most active soybean contract on the Chicago Board of Trade (CBOT) 
ZS1! was down 0.1% at $10.33 per bushel, as of 0049 GMT, marking the third straight session of losses.
* Wheat 
ZW1! slipped 0.14% to $5.21 a bushel, while corn 
ZC1! traded flat at $4.03 a bushel.
* U.S. soybean farmers urged President Donald Trump in a Tuesday letter to reach a trade deal with China that secures significant soybean purchase agreements, warning of severe long-term economic outcomes if Beijing continues to shun U.S. supplies.
* China, the world’s top soy buyer, has not yet pre-purchased soybeans from the upcoming U.S. harvest, an unusual delay that has unsettled traders and growers.
* The Pro Farmer crop tour showed Indiana corn yield potential at a 22-year high, while Nebraska posted its highest soybean pod count in at least 22 years and best corn yield outlook in four years.
* The USDA confirmed private sales of 228,606 metric tons of new-crop U.S. soybeans to Mexico.
* Russia’s IKAR consultancy on Monday raised its 2025 wheat crop forecast, reinforcing expectations of a strong harvest from the world’s biggest exporter.
* Hopes of progress toward ending the war in Ukraine also weighed on sentiment, though the next steps in negotiations remained uncertain.
* Commodity funds were net sellers of CBOT soyoil, corn, soybean and wheat futures contracts on Tuesday, traders said. Funds were net buyers of soymeal futures, they said. (COMFUND/CBT)
MARKET NEWS
* Wall Street stocks fell, European equities rose and oil edged down on Tuesday as traders assessed the previous day’s White House talks on the war in Ukraine, and looked ahead to a key meeting of central bankers.
DATA/EVENTS (GMT)
0600 UK Core CPI, CPI YY July
0600 UK CPI Services MM, YY July
0900 EU HICP Final MM, YY July
