Chicago grains fall on US harvest pressure, higher end-stock estimate

Business Recorder reported that Chicago wheat and corn prices declined for a fourth consecutive session on Monday, as traders held back before the USDA's weekly crop update, set for release on Tuesday. Soybean prices also moved lower during the same trading day.

The softer tone came after the previous week brought mostly pleasant conditions to much of the American Midwest, lifting hopes that growers could recover lost time. Rain had slowed harvesting at the end of September and the start of October, so better weather gave farmers room to make up ground.

The headline also points to a higher end-stock estimate, but the text provided does not include the revised figures or the reasons for the change. The USDA release due on Tuesday will update harvest progress, the data traders were waiting for.