Corn and soybean futures declined Thursday as traders responded to forecasts calling for timely rainfall and moderate temperatures across much of the Midwest during key crop development stages. Market analysts said improving weather has strengthened expectations for large U.S. harvests, weighing on grain prices despite steady export demand. Wheat futures posted modest gains at times, supported by continued uncertainty surrounding Black Sea grain shipments and global supply logistics, though abundant worldwide inventories limited stronger advances. Traders are also positioning ahead of USDA's August Crop Production and World Agricultural Supply and Demand Estimates reports, which are expected to provide updated yield forecasts and production estimates. Analysts surveyed by Reuters anticipate generally favorable crop conditions will translate into strong corn and soybean production if weather remains cooperative through August. CME Group market data showed grains remained volatile as investors balanced weather forecasts with global demand and geopolitical developments.
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