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Grain prices at the Chicago Board of Trade were on the weaker side for the week ended July 16 due to last week's USDA report and ongoing trade tensions.

U.S. wheat futures rose more than one per cent on Wednesday as signs of a hardening conflict between Ukraine and Russia and worries about dryness in China appeared to spark a round of short-covering, analysts said.

Grain futures fell on the Chicago Board of Trade last week with more uncertainty waiting in the wings.

Chicago Board of Trade soybean futures hit their highest level in more than a week on Thursday as technical buying helped the market recover from a three-month low reached on Monday, analysts said.

Chicago corn futures fell on Thursday as beneficial weather patterns moved through growing areas, analysts said.

China’s soybean imports hit the highest level ever for the month of June, a Reuters calculation of customs data showed on Monday, driven by a surge in shipments from top supplier Brazil.

Global food commodity prices edged higher in June, supported by higher meat, vegetable oil and dairy prices, the United Nations' Food and Agriculture Organization said on Friday.

Chicago soybean futures gained strength on Wednesday from a weaker dollar and a report that China would be open to trade negotiations with the U.S., though big supplies from South America and nearly nonexistent Chinese demand for U.S. beans continued to loom over the market, analysts said.

Chicago wheat futures extended gains on Wednesday, at one point rising to a one-month high, amid support by a weaker dollar and short-covering encouraged by production concerns, market analysts said.

Spring wheat prices rose, while other prices were firmer or higher during the week ended June 4, 2025.