(Updates with European trading, adds PARIS to dateline)
PARIS/BEIJING, June 26 (Reuters) - Chicago corn and
soybean futures hovered around multi-month lows on Thursday as
favourable U.S. weather and expectations of record Brazilian
crops maintained supply pressure.
Wheat fell for a fourth day as an advancing U.S. harvest and
rising expectations for Russian production also kept the focus
on ample global supply.
The most active corn contract on the Chicago Board of
Trade was unchanged on the day at $4.05 a bushel at 1233 GMT. It
earlier fell to its lowest since October at $4.02-1/4, in the
latest of a series of 2025 lows.
CBOT soybeans were up 0.15% at $10.20 per bushel after
earlier reaching their lowest since April 10 at $10.16. CBOT
wheat eased 0.55% to $5.41-1/2 a bushel.
"Warm, rainy weather in the U.S. Midwest (is) expected to
aid crop development for the recently planted corn and soy
crops," Saxo Bank said in a note, adding that wheat was facing
"a strong production outlook across the Northern Hemisphere,
where harvesting is under way."
Brazilian farmers will produce a record 123.3 million metric
tons in the second corn crop, agribusiness consultancy
Agroconsult forecast on Tuesday after surveying fields in key
producing regions nationwide. The country is already estimated
to have harvested a record soybean crop earlier this year.
One concern for the corn market was hot weather in Europe,
including in France, in the run-up to the crucial pollination
period for corn in July.
In wheat, consultancy IKAR said on Thursday it had raised
its 2025 Russian wheat production forecast to 84.5 million
metric tons from 83.8 million, joining other analysts in raising
their outlook for the upcoming crop.
Grain markets are also turning their attention towards the
U.S. Department of Agriculture's crop progress and quarterly
stocks reports due Monday.
Prices at 1233 GMT
Last Change Pct Move
CBOT wheat 541.50 -3.00 -0.55
CBOT corn 405.00 0.00 0.00
CBOT soy 1020.00 1.50 0.15
Paris wheat 195.00 -2.25 -1.14
Paris maize 194.25 -0.75 -0.38
Paris rapeseed 476.75 -2.50 -0.52
WTI crude oil 65.22 0.30 0.46
Euro/dlr 1.17 0.00 0.34
Most active contracts - Wheat, corn and
soy US cents/bushel, Paris futures in
euros per metric ton